On July 23, at a regional meeting of financial, treasury and tax bodies "On results of execution of consolidated budget for the 1st six months of 2014” held by Tatarstan President Rustam Minnikhanov, it was reported that the total amount of taxes collected in Tatarstan for the first six months of 2014 amounted to 191.7 billion roubles, which is 19.5% more than in the same period in 2013.

Head of Federal Tax Service Mikhail Mishustin, Russian Deputy Finance Minister Alexey Lavrov, heads of ministries and departments, members of the State Council, heads of municipal regions and enterprises took part in the meeting.

Opening the meeting, Rustam Minnikhanov said that for the first half of 2014 the regional consolidated budget met the targets, with fiscal and non-tax revenues amounted to 86.7 billion roubles. Taking into account uncompensated receipts, the total revenues reached 97 billion roubles, which makes 53 per cent of the yearly plan. The consolidated budget expenditures made 100 billion roubles or 50 per cent of the yearly plan.

“This year has been the most complicated one since the 2008-2009 crisis. The economic slowdown that began last year continues today. The industrial production index made 100.6 percent for the first six months,” Rustam Minnikhanov stated.

According to him, the public sector wage fund has gone up by 21.4 billion roubles in Tatarstan since 2012. "We meet all the obligations, but we have to reduce our investment programmes," Minnikhanov continued.

Rustam Minnikhanov noted that the issues concerning the improvement of the tax legislation should be dealt with in close cooperation with other Russian regions, taking into account their opinions and specificity of the economy. Effects of changes should be carefully evaluated.

Tatarstan President expressed his concern about the so-called “big tax maneuver”, which can seriously affect the oil processing industry.

Speaking about increasing the tax base, Tatarstan President said that a personal property tax, to be imposed next year, would help do it. The regional government should conduct a new cadastral appraisal of property and identify unregistered property, he said.

Head of the Federal Tax Service said that the Russian consolidated budget received 6.2 trillion roubles of income for six months of 2014, which is 13.7% higher than in the first half of 2013.

Mikhail Mishustin said that Tatarstan ranks the sixth in terms of fiscal income in Russia and the first in Volga Federal District.

"I believe that we have one of the best systems of tax administration in the world. And Tatarstan has one of the best tax systems in Russia”, Mikhail Mishustin said.

He thanked Rustam Minnikhanov for his work on the improvement and development of the financial system of the country and awarded him the Certificate of Honour of the Tax Service.

"We will work hard to make our financial system the best in the country. It is in our common interests, " Tatarstan President said in response.