State 2015 budget revenue €4.7m above target

The Latvian State Revenue Service (VID) has met the budget revenue target by 100.1 percent in 2015 with actual budget revenue EUR 4.375 million above the target, according to the information from the VID, reported LETA Monday.

The actual budget revenue administrated by the VID in 2015 totaled EUR 7.468 billion while the planned revenue was EUR 7.464 billion.

The target of revenues to the central government basic budget was met to 99.8 percent in 2015. The target was EUR 3.64 billion but the actual revenues were by EUR 8.74 million lower.

Value added tax revenue accounted for most of the amount or EUR 1.903 billion euros, although it was collected at just 98.3 percent of the EUR 1.936 billion target figure.

The revenue from excise tax in 2015 reached EUR 796.292 million or 103.5 percent of the planned EUR 769.228 million.

Revenue from corporate income tax last year was EUR 383.108 million or at 100.8 percent of the planned EUR 380.12 million.

Social insurance contributions totaled EUR 2.369 billion which was equal to 99.6 percent of the target figure or EUR 2.378 billion.

Revenue from the personal income tax amounted to EUR 1.438 billion or 101.5 percent of the target figure, EUR 1.416 billion.

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