Financial Services, Latvia, Taxation
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 11:40
Latvia: Total tax debt in Latvia at EUR 885.9 mln in early November
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 481.144 mln, or 1% less than in early October, and tax debts to local
government budgets came to EUR 273.764 mln, a drop by 0.2%, while overdue
social security contributions equaled EUR 131.039 mln, down 2.3% m-o-m.
As at November 1, current tax debts on which fines for late
payment are being calculated made up 61.5% of the total amount, or EUR 544.6 mln.
Uncollectable debts of the companies under liquidation stood
at EUR 259,800
Debts deemed collectible were worth EUR 544.34 mln in early
October this year, including EUR 163.722 mln declared actually collectible, and
EUR 380.618 mln declared actually uncollectable. Out of the actually
uncollectable debts, the debtors owing EUR 379.254 mln do not have any money or
property, while in cases of debts worth EUR 1.364 mln the statute of limitation
has set in.
As at November 1, the deadline for payment of the debt had
been extended for tax debts totaling EUR 54.185 mln.
The amount of suspended debts, on which fines for late
payment are no longer being calculated, stood at EUR 287.161 mln at the
beginning of November, with the majority of these debts accumulated by
companies that have been declared insolvent.
In early October, the total tax debt in Latvia stood at EUR
894.407 mln