Budget, Estonia, Financial Services, Taxation

Labor taxes or social tax, unemployment insurance premium and personal income tax receipts totaled 1.22 billion euros or 6.8% more than at the same time last year.

Tax receipts made up the biggest part of revenue increase, totaling 217.2 million euros.

The Tax and Customs Board collected 2.43 billion euros in four months. Of the biggest revenue items, social tax made up 828.9 million euros, VAT 612.7 million euros and excise duties 337.5 million euros.

The main reason behind the first quarter's tax receipts' increase is that many stores bought large amounts of products subject to excise duty in January and February before the excise duty hike stepped into force. According to the ministry, in the coming months excise duty receipts are to decrease.

Non-tax revenue amounted by the end of April to 393.8 million euros, showing a year-on-year decrease of 25.8 million euros. European Union and other support totaling 261.7 million euros accounted for the biggest part of non-tax revenue.

Investments made since the start of the year total 59.7 million euros, a decrease of 30.4% compared to the same period of last year.

Liquid financial assets of the state treasury, that is, deposits and bonds, stood at 1.18 billion euros at the end of April, down by 252.1 million euros or 17.6% compared to the end of April 2015.

At the end of March, the government sector had a nominal deficit of 0.32% of gross domestic product or 67.8 million euros.

The state's receipts in 2016 are budgeted to total 8.84 billion euros and expenditures 9.07 billion euros inclusive of carryovers.