Lithuania's H1 budget revenue EUR 5.9 mln above target

  • 2018-07-20
  • LETA/TBT Staff

VILNIUS - Lithuania's central government and local authorities collected a total of 4.352 billion euros in budget revenue between January and June, some 5.9 million euros, or 0.1 percent, more than expected and 256 million euros, or 6.2 percent, more than a year ago, the Finance Ministry said on Thursday. 

The central government's budget revenue for the six months came in at 3.433 billion euros, up by 159.1 million euros, or 4.9 percent, compared with the same period last year.

The value-added tax brought 1.739 billion euros into the state's coffers, 0.7 percent more than planned and 4.9 percent more than a year ago. 

First-half revenue from three other key taxes, however, fell short of estimates.

Excise tax revenue totaled 680.6 million euros, which was 5.8 percent below the target. Revenue from the corporate income tax, at 414.9 million euros, was 4.5 percent lower than projected. 

In year-on-year terms, revenue from these taxes rose by 5.8 percent and 6.8 percent, respectively. 

The personal income tax generated a total of 857.3 million euros in central government and municipal budget revenue, 3.5 percent less than planned, but 7.3 percent more than a year ago.

This year's central government budget projects 6.767 billion euros in annual revenue not including EU funds and 9.071 billion euros including EU funds.