Financial Services, Latvia, 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 930.226 mln, down 0.6% from early August, and tax debts to local government budgets came to EUR 322.259 mln which was a 0.03% rise, while overdue social security contributions equaled EUR 168.803 mln, up 0.6%.

As at September 1, 2016, current debts on which fines for late payment are being calculated made up 72.8% of the total amount or EUR 1.035 bln.

Un-collectable debts of the companies under liquidation stood at EUR 9.711 mln.

Debts deemed collectible were worth EUR 1.025 bln in early September this year, including EUR 136.854 mln declared actually collectible, and EUR 888.296 mln declared actually un-collectable. Out of the actually un-collectable debts, the debtors owing EUR 872.525 mln do not have any money or property, while in cases of debts worth EUR 16.77 mln the statute of limitation has set in.

As at September 1, 2016, the deadline for payment of the debt had been extended for tax debts totaling EUR 69.233 mln.

The amount of suspended debts, on which fines for late payment are no longer being calculated, stood at EUR 317.193 mln at the beginning of September, with the majority of these debts accumulated by companies that have been declared insolvent.

In early August 2016, the total tax debt in Latvia stood at EUR 1.425 bln.