Construction, Financial Services, Latvia, Legislation, Real Estate, Taxation

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 11:17

Construction companies' tax payments to Latvian budget decrease 9.1% in 2017

BC, Riga, 10.05.2018.Print version
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Construction companies' tax payments to the state budget totaled EUR 189.25 million last year, which is 9.1% or EUR 18.86 million less than in 2016, writes LETA, according to the State Revenue Service's data.

Last year, construction companies' social contributions amounted to EUR 152.29 million, companies' personal income tax payments totaled EUR 87.2 million, corporate tax payments - EUR 10.9 million, microenterprise tax payments - EUR 9.29 million, and other payments to the budget - EUR 5.79 million.


According to the Revenue Service, construction companies' corporate tax payments decreased 2.4 times last year, VAT payments increased 51.8%, while social contributions and personal income tax payments rose 10.8%.


Although construction companies' labor tax payments in 2017 increased EUR 23.3 million as compared to 2016, this increase did not compensate for the reductions in corporate tax and value added tax payments, which decreased by, respectively, EUR 15.26 million and EUR 25.99 million.





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