At the beginning of June total tax debts in Latvia, including active, halted and extended debts, reached EUR 989.207 million, up by 3.6% MoM, according to data from the State Revenue Service (VID).
The most rapid increase was observed for social insurance fee debts. Nevertheless, the growth rate has reduced in comparison with the previous month.
The size of debts before the base budget reached EUR 519.787 million at the beginning of June, up by 2.4%. Debts before municipal budgets accounted for EUR 284.91 million, up by 3%. Social insurance fee debts accounted for EUR 184.509 million, up by 8.4%.
At the same time, VID data showed that active debts applied with penalties accounted for 54.2% of the total debt amount or EUR 535.872 million as of June 1.
Additionally, data from VID showed that debts worth EUR 273,120 were declared unenforceable as of June 1. These debts were left by liquidated companies prior to the end of their liquidation procedure.
Debts worth EUR 535.599 million were declared enforceable at the beginning of June. This includes debts worth EUR 166.305 million declared realistically enforceable and debts worth EUR 367.356 million declared realistically unenforceable. Of the debts declared realistically unenforceable, debtors who owe EUR 367.356 million have no money or property to afford repayment. Debt enforcement term’s end has come to force for debts worth EUR 1.938 million.
Debt repayment term extension was provided to debts worth EUR 190.186 million as of June 1, up by 43.3%. (BNN/Business World Magazine)
