Taxpayers in Latvia owed EUR 854.026 million in tax debt at the beginning of October this year, which was 1.4% more than in September and 1% less than at the beginning of the year, the State Revenue Service (VID) has declared.
The total includes current debt, suspended debt, as well as debt with extended repayment schedules.
Tax debts to the basic budget of the central government amounted to EUR 372.947 million, up 0.3% from the previous month. Debts to local governments came to EUR 299.86 million (+0.9%), while overdue social security contributions equalled EUR 181.219 million, or 4.3% more than last month.
As of October 1, debts for which late payment fines are being calculated amounted to 62% of the total amount, or EUR 529.157 million
Debts worth EUR 2.5 million have been declared to be uncollectible, with most of that debt accumulated by companies which have since been declared insolvent.
Total tax debt at the beginning of 2024 stood at EUR 862.392 million.
Source: BNS
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