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Budget revenue collected by Revenue Service 5.2% above target in January
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    News

    Budget revenue collected by Revenue Service 5.2% above target in January

    RIGA, Feb 13 (LETA) - The State Revenue Service collected EUR 855.733 million in budget revenue in January 2020, which is EUR 42.013 million or 5.2 percent above the target, according to information released by the Revenue Service.

    Compared to January 2019, the budget revenue collected by the State Revenue Service grew by EUR 74.688 million, or 9.6 percent this January.

    Social security contributions grew 6.9 percent on year to EUR 293.817 million in January, exceeding the target by 3.3 percent. Revenue from personal income tax rose 21.3 percent on year to EUR 183.433 million, which is 23.9 percent above the target.

    Value added tax generated EUR 219.177 million in budget revenue in January, which is 0.7 percent below the target and up 2.4 percent against last January.  

    Budget revenue generated from excise tax came to EUR 91.227 million in January 2020, which is 3.5 percent short of the target but an increase of 1.4 percent against the respective month last year.

    Corporate income tax revenue was 11.4 percent below the target and totaled EUR 14.17 million in January, growing 3.3 times year-on-year.

    The tax revenue target for 2020 is EUR 10.503 billion, including EUR 813.72 million for January. 

    • Published: 13.02.2020 08:48
    • LETA
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