Financial Services, Statistics, Taxation

This total includes current and suspended debts as well as debts with extended payment deadlines.

Tax debts to the central government basic budget stood at EUR 935.523 mln, down 2.8 % from early July, and tax debts to local government budgets came to EUR 322.149 mln which was a 1.6% rise, while overdue social security contributions equaled EUR 167.774 mln, dropping 1.1%.

As at August 1, 2016, current debts on which fines for late payment are being calculated made up 73% of the total amount or EUR 1.041 bln.

Un-collectable debts of the companies under liquidation stood at EUR 9.628 mln.

Debts deemed collectible were worth EUR 1.032 bln in early August this year, including EUR 142.775 mln declared actually collectible, and EUR 888.888 mln declared actually un-collectable. Out of the actually un-collectable debts, the debtors owing EUR 872.252 mln do not have any money or property, while in cases of debts worth EUR 16.636 mln the statute of limitation has set in.

As at August 1, 2015, the deadline for payment of the debt had been extended for tax debts totaling EUR 72.544 mln.

The amount of suspended debts, on which fines for late payment are no longer being calculated, stood at EUR 311.61 mln at the beginning of August, with the majority of these debts accumulated by companies that have been declared insolvent.

In early July 2016, the total tax debt in Latvia stood at EUR 1.449 bln.