Latvia’s State Revenue Service (VID) has calculated the total fiscal debts as of the start of November. This includes existing and halted debts, as well as repayment term extensions. The total debt amount in Latvia reaches Eur 1.077 billion.
This is 0.8% less when compared to the month prior, and 3.1% more when compared to the start of the year. The total tax debt before the state base budget was EUR 562.145 million at the start of November 2022. This is a drop of 0.8% when compared with the start of October. Debts before municipal budgets account for EUR 305.214 million, which is 1.6% less when compared with the month prior.
The debts in social insurance contributions reach EUR 209.559 million, which is 0.3% more when compared with October.
Existing debts charged with late payment penalty accounted for 57.2% of all debts at the start of November 2022, reaching a total amount of EUR 615.689 million.
VID declared debts worth EUR 2.154 million as unenforceable as of 1 November 2022. These debts come mainly from liquidated companies.
Debts worth EUR 613.536 million are considered enforceable. These include realistically enforceable debts worth EUR 265.381. The amount of debts considered unenforceable reaches EUR 348.055.
On 1 November 2022 repayment term extensions were provided to debts worth a total of EUR 150.298 million, which is 5.2% less when compared with the previous month. The total volume of terminated debts charged with late payment penalty was EUR 310.913 million at the start of November. This amount was composed mainly of debts of insolvent companies.
A month prior, the total tax debts in Latvia accounted for EUR 1.086 billion. As of 1 January 2022 these debts accounted for EUR 1.044 billion.