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. Last Updated: 07/27/2016

Final Tax Take Falls 15% Short

Widespread tax evasion and a shrinking economy caused Russian tax revenues to fall 15 percent below government targets in 1996, the State Tax Service said Friday.

Total collections amounted to 202 trillion rubles ($36.1 billion), short of the goal of 240 trillion rubles, a tax service spokesman told Itar-Tass.

Last year's revenues were up 40 percent over 1995, the spokesman noted, although that figure was not adjusted for inflation, which was 21 percent in Russia last year.

Collections had been as much as 30 percent below targets in 1996, but a crackdown in the second half of the year helped bring the full-year rate up.

The International Monetary Fund twice suspended loan disbursements to Russia in 1996, citing poor tax revenue performance.

The tax service spokesman blamed the shortfall on a continuing slump in industrial production.

The overall economy shrank about 6 percent in 1996.