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. Last Updated: 07/27/2016

Taxes Stuck in Banks

MOSCOW -- State Tax Service chief Georgy Boos said Friday that nearly 22 billion rubles ($963 million at Saturday's official rate) of tax revenue was stuck in banks instead of making it into federal coffers.

The tax service also said in a statement that tax revenues fell in 1998 due to the August financial crisis, which left the government scrambling for every kopek it could get.

"Estimates as of Feb. 1 show that 20 billion to 22 billion rubles are stuck in banks, and this is only for the federal budget," Boos said at a meeting of ministry officials.

The ministry said a total 526.1 billion ru bles were collected in tax in 1998, including 194.2 billion for the federal government budget. It said total taxes fell 12 percent while taxes to federal coffers dropped 22 percent.