Budget, Financial Services, Latvia, Taxation

The actual revenue administrated by the State Revenue Service in January-April 2016 is EUR 2.46 billion, and the target was EUR 2.446 billion.

Revenue to the central government basic budget added up to EUR 1.18 billion euros in January-April this year or EUR 18 million above the target.

Value added tax (VAT) revenues made up EUR 616.87 million in the first four months of 2016, which was 1.6% less than planned.

Excise tax provided EUR 261.37 million or 3.6% more than planned.

Revenues from corporate income tax in January-April totaled EUR 138.52 million, or 4.1% above the target.

Revenues from social security contributions were 0.5% above the target and totaled EUR 797.47 million in January-April. Personal income tax revenues came to EUR 472.39 million, falling 1.7% short of the four-month target.

Last year actual budget revenue administrated by the State Revenue Service amounted to EUR 7.468 billion and the target was EUR 7.464 billion.

This year the revenue service is expected to collect EUR 7.926 billion in taxes at a 6.1% growth from 2015.