In 2024, the main sources of revenue for the republican budgets of the Eurasian Economic Union countries were value added tax (VAT) and various other revenues, including personal income tax, natural resource fees, property tax, social contributions and grants.

The share of VAT varied between 26%-37%, while the other revenues accounted for 40%-56% of budget revenues.

Analysis of regional trends shows that in Armenia, Kazakhstan, Kyrgyzstan and Russia there was a decrease in the share of VAT in the structure of budget revenues, while revenues from other tax and non-tax sources increased.

The largest decrease in VAT is observed in Armenia, where its share in the total revenue structure decreased from 33% to 29%, followed by Kyrgyzstan 36% in 2024 vs. 40% in 2023. In Kazakhstan and Russia, the share of VAT in budget revenues decreased by 3 percentage points, from 29% to 26% and from 40% to 37%, respectively.

Interestingly, Kyrgyzstan is the only country in the EAEU that increased the share of revenues from foreign economic activity. They increased from 8% to 10%.

A special case was recorded in Russia, where excise duties had a negative value. This is explained by the mechanism of excise duty refund within the framework of the damping component - the state system of fuel price regulation that compensates oil refining companies for the difference between domestic and export prices.