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Tuesday 16.10.2018 | Name days: Daiga, Dinija

Latvia Finance Ministry: budget revenue plan is over-implemented

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Overall, 315.7 million lats were collected in the state budget revenues last month, which is 109.2% compared to the planned amount. While over the ten months of 2010 – 3.03 billion lats, which constitute 102.2% implementation against the plan, suggest the State Revenue Service (SRS) aggregated data.

According to the State Treasury (ST) operational data on the state budget implementation in October, the state general budget revenues accounted for 203.8 million lats, but expenditure totalled 257.2 million lats, creating a financial deficit of 53.4 million lats.

In October, the state special budget revenues comprised 108.2 million lats, expenditure – 114.5 million lats, forming a financial deficit at the extent of 6.3 million lats. The consolidated state budget deficit in October was 59.7 million lats. Over the ten months of 2010, the state budget deficit comprised 413.3 million lats.

In October, the SRS administered state general budget revenues (excluding individual income tax and natural resource tax, whose revenues are distributed between the state general budget local government budgets) were 155.3 million lats, forming 131.4% performance against the plan. The state social insurance contributions (including 2nd Tier pension investment plan deductions) was 95.7 million lats, thus implementing 96.2% from the planned. Overall, in October the SRS administered revenues were implemented at the extent of 109.2%, compared to the plan.

Corporate income tax (CIT) revenues in October accounted for 8.9 million lats, which is 282.6% of the planned amount. CIT revenues were over implemented because initially a very cautious tax revenue plan for October was drawn up – 3.2 million lats, yet its implementation was over exceeded. In addition, value added tax (VAT) revenues comprised 80.9 million lats – by 29.8% surpassing the planned. However, it should be noted that compared to the revenues in the corresponding period last year, VAT revenues this year exceeded the tax collection volume by 22.1 million lats.

Moreover, 39.1 million lats were collected in excise tax, which is falls behind the planned volume by 5.1%. In October, the excise tax revenues from tobacco exceeded the plan by 2% and comprised 8.1 million lats, as the tobacco distributors have made larger contributions to the budget. Excise duty on beer was levied at the extent of 124.7%. While the revenues from excise tax on alcoholic beverages exceeded the plan by 11.3%.

Furthermore, Passenger car and motorcycle tax revenues in October where over implemented by 54. 1%, customs tax revenues last month also exceeded the planned amount by 48.3%.


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  1. Hans F. says:

    That’s quite a good indicator.

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