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Tax revenue to Latvian budget EUR 32.4 million above target in January-October
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    Tax revenue to Latvian budget EUR 32.4 million above target in January-October

    RIGA, Nov 14 (LETA) - Revenue to the Latvian budget administrated by the State Revenue Service met the target by 100.5 percent in January-October 2017, being EUR 32.4 million above the target, the tax authority said.

    The actual revenue administrated by the State Revenue Service in the first ten months of this year reached EUR 7.11 billion while the target was EUR 7.078 billion.

    The revenue to the central government basic budget met the target by 99.5 percent and was EUR 3.412 billion in the first ten months of 2017, falling EUR 16.735 million short of the target which was EUR 3.429 billion.

    Personal income tax revenue (including to the local government basic budget) totaled EUR 1.379 billion which is equal to 103 percent of the target of EUR 1.338 billion.

    Revenues from social insurance contributions were collected at 100.7 percent of the target and totaled EUR 2.292 billion.

    Value added tax (VAT) was collected at the amount of EUR 1.799 billion which is equal to 100.3 percent of the planned amount.

    Revenue from corporate income tax totaled EUR 359.831 million, or 100.2 percent of the target of EUR 359 million.

    Excise tax revenue in January-October this year was EUR 749.83 million or 101.3 percent of the planned amount of EUR 740.205 million.

    As reported, the annual tax revenue target for 2017 is EUR 8.53 billion. This year’s tax revenue target is by 6.4 percent higher than actual revenue last year and by 7.6 percent higher than last year’s target.

    • Published: 14.11.2017 10:50
    • LETA
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