Last year Latvia collected EUR 13.414 billion in taxes, which is EUR 356.6 million or 2.7% more than planned, as reported by representatives of the Ministry of Finance.
When compared to 2022, last year’s tax revenue went up by EUR 1.188 billion or 9.7%.
In 2023 Latvian state budget tax revenue reached EUR 12.639 billion, which is EUR 352.6 million or 2.9% more than planned.
The state budget’s tax revenue was EUR 10.514 billion, which is EUR 238.9 million or 2.3% more than previously planned. The municipal budget tax revenue was EUR 2.126 million, which is EUR 113.6 million or 5.6% more than planned.
Tax revenue of the state-funded pension plan was EUR 775.8 million, which is EUR 4.7 million or 0.6% more than planned.
Social insurance contributions went up the most in 2023 – EUR 4.799 billion, which is 0.6% more than planned.
At the same time, revenue from VAT reached EUR 3.879 billion, which is 2.3% more than planned. Revenue from PIT reached EUR 2.5001 billion, which is 6.1% more than planned.
Revenue from excise tax was EUR 1.155 billion, which is 2.8% less than planned. Excise tax revenue from petrol products was EUR 587.6 million, which is 1.2% less than planned. Revenue from tobacco products was EUR 267.9 million, which is 2.1% less than planned. Revenue from alcoholic beverages was EUR 199 million, which is 7% less than planned. Revenue from beer was EUR 49.4 million, which is 8.8% less than planned. Tax revenue from natural gas was EUR 12.9 million, which is 7.3% less than planned.
Corporate income tax revenue reached EUR 544.8 million, which is 35.5% more than planned. Real estate tax revenue was EUR 236.5 million, which is 2.5% more than planned.
Vehicle operation tax revenue last year amounted to EUR 102.5 million, which is 0.5% more than planned, while natural resources tax revenues amounted to EUR 61.9 million, which is 2.4% more than planned.
Customs tax revenue was EUR 56.9 million, which is 33.7% less than planned. Revenue from gambling and lotteries tax was EUR 47.8 million, which is 12% more than planned.
At the same time, corporate car tax revenues last year amounted to EUR 25.3 million, which is 14.7% more than planned, while electricity tax revenues amounted to EUR 4.9 million, which is 3.6% less than planned.
In total, Latvia planned to collect EUR 13.058 in taxes in 2023.
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