Budget, Financial Services, Latvia, Taxation

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 17:37

Latvian municipalities' budget overflows with tax revenue during 7 months

BC, Riga, 28.08.2014.Print version
Personal income tax revenue in municipalities' budgets in Latvia in 2014 could exceed the annual plan by EUR 4.1 million, the Finance Ministry forecasts, cites LETA.

During the first seven months of 2014, personal income tax revenue has exceeded the Finance Ministry's initial expectations, causing an overflow of EUR 1.3 million (0.2%). The total amount of personal income tax in municipalities' budgets during the first seven months of 2014, was EUR 628.6 million.

 

Municipalities' budgets consist not only from personal income tax revenue – real estate tax revenue has also exceeded the initial plan by EUR 15 million (13.7%). The total amount of real estate tax revenue in municipalities' budgets during the first seven months of 2014, was EUR 124 million.

 

Meanwhile, lottery and gambling tax revenue failed to exceed the initial plan. During the first seven months of 2014, municipalities collected lottery and gambling taxes in the amount of EUR 4.1 million, which is 96.7% of the initial plan, while natural resources tax revenue amounted EUR 3.4 million, which is mere 65.1% of the initial plan.






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