Tax debts in Latvia exceed 800 million euros

Among them, debts to the state basic budget at the beginning of November 2023 amounted to 399.227 million euros, which is an increase of 0.1% compared to the beginning of October, debts to local government budgets amounted to 291.784 million euros, which is 0.6% more than a month earlier, but social insurance premium arrears amounted to EUR 172.333 million, which is an increase of 2.8%.

On November 1, 2023, the current debts, for which arrears are calculated, made up 62.3% of the total amount of debts, or 537.698 million euros.

Also, SRS data show that on November 1 of this year, debts amounting to 2.466 million euros were recognized as uncollectible – these debts were incurred by companies in liquidation until the completion of the liquidation procedure.

On the other hand, in accordance with the regulations, at the beginning of November this year, debts in the amount of 535.231 million euros were recognized as recoverable, including debts recognized as real recoverable in the amount of 248.916 million euros, and as real uncollectible – in the amount of 286.316 million euros. Of the debts recognized as truly uncollectible, for 286.303 million euros, the debtors do not have funds and property to focus on collection, while the collection statute has expired for debts in the amount of 12,300 euros.

On November 1 of this year, repayment term extensions were granted to debts totaling EUR 93.338 million, which is 33.9% less than at the beginning of the year.

On the other hand, the sum of the suspended debts, for which the calculation of late fees was stopped, was 232.308 million euros at the beginning of November – this sum was made up of the debts of companies recognized as insolvent.

On January 1, 2023, total tax debts in Latvia amounted to 876.776 million euros.