Latvian tax collection ahead of targets so far in 2019

During the first ten months of this year, the State Revenue Service collected EUR 8.141 billion in budget revenue, which is EUR 43.57 million or 0.5 percent above the target, the Revenue Service said, according to the LETA newsire.

Compared to the first ten months of 2018, budget revenue collected by the Revenue Service grew by EUR 353.23 million or 4.5 percent.

Social security contributions made in the first ten months of 2019 totaled EUR 2.889 billion, or 3.2 percent more than planned. EUR 1.535 billion were collected in personal income tax, which is 10.1 percent above the target.

Collection of value added tax (VAT) rose 8.3 percent year-on-year to EUR 2.166 billion in the ten months of 2019, which is 0.7 percent below the target.

Corporate income tax in the first ten months of this year accounted for EUR 26.23 million, which is 84 percent below the target.

Excise tax brought EUR 894.039 million in the budget, which is 3.6 percent below the target. Compared to the same period last year, excise tax revenue rose 4.5 percent.

This year, tax revenue is project at EUR 9.819 billion.

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