Latvia's tax revenues higher than planned in 2023

EUR 13.414 billion was collected in tax revenues last year, which is EUR 356.6 million or 2.7% more than planned, Finance Ministry representatives told LETA February 2.

Compared to 2022, tax revenue grew by 1.188 billion euros or 9.7% last year.

In the general government budget, tax revenue in 2023 amounted to EUR 12.639 billion, which is by EUR 352.6 million or 2.9% more than planned. In the state budget, tax revenue amounted to EUR 10.514 billion, which is by EUR 238.9 million or 2.3% more than planned, while in the local government budget tax revenue was EUR 2.126 billion, which is by EUR 11.6 million or 5.6% more than planned.

In 2023, the largest amount was collected in social security contributions - EUR 4.799 billion, which is 0.6% more than planned.

Value-added tax (VAT) revenue was EUR 3.879 billion last year, which is 2.3% more than planned, while personal income tax revenue comprised EUR 2.5001 billion, which is 6.1% more than planned.

Excise tax revenue was EUR 1.155 billion during the period considered, which is 2.8% less than planned. 

In 2023, it was planned to collect EUR 13.058 billion in taxes.

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