Tax debts in Latvia increase to EUR 863.3 million in early November

RIGA - At the beginning of November 2023, tax debts in Latvia totaled EUR 863.343 million, which is 0.8 percent more from October, but a 1.5 percent decrease from 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 399.227 million, up 0.1 percent from the previous month, tax debts to local government budgets came to EUR 291.784 million, up 0.6 percent, while overdue social security contributions equaled EUR 172.333 million, which is a 2.8 percent increase from the beginning of October.

As at November 1, current debts on which fines for late payment are being calculated made up 62.3 percent of the total amount, or EUR 537.698 million.

Debts worth EUR 2.466 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.