Budget, EU – Baltic States, Financial Services, Funds, Lithuania

It was expected to receive LTL 5.315 billion (EUR 1.539 billion) in revenue.

It was projected to receive LTL 4.407 billion (EUR 1.276 billion) within the first quarter. However, revenue resulted in LTL 4.375 billion (EUR 1.267 billion), by 0.7% or LTL 32 million (EUR 9.26 million) less than projected but by 7.3% more year-on-year.

According to Secretary of Finance Vytautas Galvonas, in the first quarter, similarly as last year, insufficient collection of projected revenue from GDP remains a concern.

Projection of tax revenue collection to the state budget was completed by 98%. LTL 4.050 billion (EUR 1.172 billion) was collected, by LTL 81.5 million (EUR 23.6 million) less than anticipated.

The most revenue in the first quarter was collected from GDP - LTL 2.480 billion (EUR 0.71 billion), however by LTL 126 million (EUR 36 million) less than projected.

During the first three months LTL 785 million (EUR 227 million) was received from excise duties, by LTL 104 million (EUR 30 million) more year-on-year and by LTL 21 million (EUR 6 million) more than projected.

In the first quarter LTL 295 million (EUR 58 million) was received from the corporation tax, LTL 63 million (EUR 18 million) more year-on-year and by LTL 13 million (EUR 3.76 million) more than projected.

Income from personal income tax to the state and municipal budgets in January-March amounted to LTL 964 million (EUR 279 million), almost LTL 39 million (EUR 11 million) more year-on-year and by LTL 26 million (EUR 7 million) more than projected.

Approved state budget revenue for 2014 from taxes (excluding the EU funds) amounts to LTL 18.661 billion (EUR 5.4 billion), and LTL 26.093 billion (EUR 7.5 billion) with the EU funds.