Repše: tax revenue is collected according to the plan
By admin at 30 June, 2010, 1:59 pm
| Tweet |
|
According to operative data of the Treasury on the state budget execution in May the state basic budget revenue was 222 million lats, but expenditure reached 199.7 million lats making financial deficit – 22.3 million lats. In May, state special budget revenue reached 91.9 million lats, expenditure – 94 million lats making financial deficit in amount of 2.1 million lats. State consolidated budget surplus in May was 20.3 million lats. However state budget deficit in first five months of the year was 226.3 million lats.
“Tax revenue and state budget execution in May shows that the economic situation in the state is on the right stabilisation way. In May, the corporate income tax revenue lacks behind the plan, because in this month the SRS made considerable amount of tax repayments to credit institutions for 2009. Currently the lenders’ reporting mission is going on within the framework of which revenue forecasts for the next year are analysed. During the discussions with international partners the Ministry of Finance maintain interests of Latvia,” indicated the Minister of Finance Einars Repše.
According to the information collected by the State Revenue Service (SRS) about the collected revenue in May administered by the SRS it was concluded that the tax revenue plan is almost fulfilled. In total, in previous month the tax revenue received in the state budget administered by the SRS amounted to 295.7 million lats or 99% comparing to the plan.
The state basic budget revenue administered by the SRS (excluding personal income tax and natural resource tax which are divided between the state basic budget and local government budgets) was 136.3 million lats or 101.2% against the plan. State social security contributions (together with deductions for the second level pension investment plans) were 95 million lats making 99% of the plan. In total, revenue administered by the SRS in May reached 99% of the plan.
In May, corporate income tax revenue was 5.4 million lats or 49.4% of the plan, but the value added tax revenue was 67.3 million lats or 18.8% above the plan.
35.6 million lats were collected from the excise duty which is 10.3% below the plan. Excise duty revenue from beer sales exceeded the plan by 15.7%, however excise duty revenue from tobacco products were 21.2% below the plan.
In May revenue from the lottery and gambling tax, tax on cars and motorcycles, as well as customs duty exceeded the plan.
In addition, the Ministry of Finance informs that operative data of the Treasury proves that in May personal income tax (PIT) revenue in the Treasury’s appropriation account (from which all local governments receive revenue) was 31.1 million lats. In May Riga local government collected PIT revenue in amount of 19.6 million lats, however Ventspils local government collected PIT revenue in amount of 682 thousand lats. In total in first five months of 2010 Riga local government collected 97.4% of planned PIT revenue, Ventspils local government collected 95.6%, but the Treasury’s appropriation account received 94.7% of the five-month PIT revenue forecast.
No comments yet.