Tax revenue to Latvian budget 1.1% above target in nine months

In the first nine months of this year, the State Revenue Service collected €7.01 billion in taxes for the Latvian budget, which was €77.6 million or 1.1% above the target, the tax authority said.

Compared to the first nine months of 2017, revenue to the Latvian central government consolidated budget administrated by the State Revenue Service has increased by €635.65 million or 10%.

Revenue from the mandatory state social insurance contributions reached €2.339 billion and was 0.2% above the target. Personal income tax revenue totaled €1.233 billion and 2.8% short of the target.

Revenue from value-added tax (VAT) accounted for €1.793 million and 0.3% short of the target.

Excise tax revenue was €770.512 million in the first nine months of this year or 1.7 percent above the target.

Revenue from corporate income tax which has been revised in 2018 totaled €290.053 million, which is 26% above the target

The annual tax revenue target for 2018 is €9.287 billion. The revenue target for January-September 2018 is €6.932 billion.

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