Analytics, Energy, Financial Services, Latvia, Markets and Companies, Taxation

Photo:vid.gov.lv

Statoil Fuel&Retail was awarded as the largest taxpayer in Latvia, the largest taxpayer in Riga and Region, and the largest excise tax payer in Latvia last year.

Rimi Latvia was honored as the largest salary tax payer last year, ABLV Bank – the largest corporate tax payer, and Orlen Latvija – the largest value added tax payer in 2014.

Pharmaceuticals company Olainfarm received the title of the largest exporter to third countries.

The Latvian Authorized Automobile Dealers Association and Latvian Information and Communications Technology Association were named the most active cooperation partners of the Revenue Service in 2014.

Latvijas Gaze is the largest taxpayer among state and municipal companies in 2014.

In the regions, Evija was honored as the largest taxpayer in Kurzeme in 2014, Astarte-Nafta in Zemgale, Cesu alus in Vidzeme, and Latvijas maiznieks in Latgale.

Addressing the event, Finance Minister Janis Reirs (Unity) said that every euro paid in taxes contributed to the future of Latvia. Taxpayers bolster the security and independence of Latvia, foster social well-being, ensure good education for children and pensions for senior citizens. "I am proud that we have so many businessmen we can trust, who we can honor as reliable and honest taxpayers. These businessmen serve as an example to other taxpayers," said Reirs.

Also today, 2,394 taxpayers received, through the Revenue Service's electronic declaration system, a congratulatory note from the Revenue Service's Director General Inara Petersone for making significant payments into the state budget in 2014. The Revenue Service thanks these taxpayers for successful cooperation and contribution to the economic development of Latvia, and informs them that they will not be subject to tax control measures until May 1, 2016.

As reported, the total state budget tax revenue amounted to EUR 5.29 billion last year.

Statoil Fuel&Retail Latvia paid EUR 198.2 million in taxes last year, Orlen Latvija Ltd. – EUR 144.3 million, but Neste Latvija Ltd. – EUR 134.6 million.

In total 86,265 companies were paying taxes in Latvia in 2014.