Collected taxes up €600m in 2017

Latvia's tax authority, the State Revenue Service collected €8.62 billion euros in taxes last year, up €600 million or 7.5% from 2016's figure of €8.02 billion, the service told the press January 10.

The largest growth in monies collected were seen for the social security, income and the value-added tax (VAT). 

Revenue from the social security tax (mandatory social insurance contributions) grew 9.8% on year, while the figure was 8.4% for VAT and 12% for the income tax. 

Other tax revenue, including the excise tax and corporate tax also increased steadily. 

As reported, the tax service collected 90 million euros, or 1.1% more in taxes than it originally targeted over the course of last year. 

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