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KAMAZ increased personal income tax payments to the budget of the Republic of Tatarstan

10 November 2020

In the first nine months of 2020, KAMAZ increased personal income tax payments to the consolidated budget of Tatarstan by almost 27 million rubles.

According to the tax regulation service of KAMAZ PTC, for the first nine months of 2020, income tax deductions to the budget of Tatarstan amounted to 1 billion 355 million rubles (for the same period last year – 1 billion 328 million rubles), of which 332.6 million rubles were transferred to the budget of Naberezhnye Chelny (for the same period of the last year – 327.2 million rubles). At the same time, the number of employees of the company did not increase during this period.

Despite the pandemic, KAMAZ is steadily increasing its income tax deductions. Recall that in the consolidated budget of the Republic for the first five months of the year, the auto giant transferred 19 million rubles more than the year before. The increase in the company's personal income tax was influenced by the growth of production (and, consequently, the income of KAMAZ employees), as well as the indexation of tariffs and salaries by 5% in November last year. Salaries are indexed by 5% and in October of this year – on October 29, KAMAZ employees have already received increased advances. In general, KAMAZ deductions for all taxes and contributions to budgets of all levels, even for the last, less successful year, amounted to 8.8 billion rubles.

Thanks to contributions from large businesses, Naberezhnye Chelny ranked fifth among Russia's major cities in terms of budget resilience to the economic crisis caused by the coronavirus pandemic.