Kyiv council approves Kyiv’s 2015 budget

Kyiv council approves Kyiv’s 2015 budget

The Kyiv City Council has approved the budget of Kyiv City for 2015 with revenues of UAH 22.2 billion and expenditure of UAH 20.3 billion and a surplus of UAH 1.9 billion, which will be sent to pay debts.

A total of 85 lawmakers supported the decision at a session of the Kyiv council on Wednesday.

The revenues include UAH 20.722 billion to the general fund, including a UAH 8.2 billion subvention from the national budget, and UAH 1.492 billion to the special fund.

The lion’s share of the general fund includes revenue from individuals income tax — UAH 6.586 billion, profit tax imposed on companies — UAH 820 million, excise duty — UAH 796 million, single tax — UAH 1.3 billion, fees for land plots by companies — UAH 2.332 billion and individuals — UAH 106 million, municipal property leasing — UAH 55 million, ecological tax — UAH 80 million, tourist’s fee — UAH 9.8 million, revenue from sale of land plots — UAH 380 million, fees paid by constructors — UAH 170 million and sale of municipal property — UAH 100 million.

Chairman of the profile budget commission Andriy Stannikov said that expenses of the city budget will include UAH 587 million on public administration, UAH 34.4 million on mass media, UAH 5.19 billion on education, UAH 132 million on sports, UAH 3.566 billion on healthcare, UAH 3.557 billion on social protection, UAH 628 million on culture, UAH 543 million on housing and utilities, UAH 962 million on transport and communications and UAH 1.964 billion on servicing of debt liabilities.

He said that property tax for Kyiv residents will be introduced from May 2016.

The lawmakers decided to exempt families of Heavenly Hundred heroes and antiterrorist operation (ATO) participants from paying the tax, and families with many children received a benefit — an additional 20 square meters of non-taxable space for each child born after the third child.

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