Tax debts in Latvia decline to EUR 874.3 million in early March

RIGA - At the beginning of March, tax debts in Latvia totaled EUR 1.07 billion, which is a decrease of 0.3 percent against the beginning of the year, according to the information released by the State Revenue Service (VID).

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 416.942 million, down 0.6 percent from the beginning of the year, tax debts to local government budgets came to EUR 282.938 million, up 0.8 percent, while overdue social security contributions equaled EUR 174.387 million, which is a 1.1 percent decline from the beginning of the year.

As at March 1, current debts on which fines for late payment are being calculated made up 58.1 percent of the total amount or EUR 507.628 million.

Debts worth EUR 2.128 million were recognized to be uncollectible, with the majority of these debts accumulated by companies that have been declared insolvent.

The total tax debt at the beginning of 2023 stood at EUR 876.776 million.