Tax debt in Latvia at the beginning of November 2024 totalled EUR 858.006 million, which was 0.5% more than in October and 0.5% less than at the beginning of the year, according to the State Revenue Service (VID).
The total includes ongoing and suspended debt, as well as debts with extended payment deadlines.
Tax debt to the basic central government budget amounted to EUR 368.615 million, down 1.2% on the month, while debt to local government budgets came to EUR 305.531 million (up 1.9%). Overdue social security contributions equalled EUR 183.86 million, which was a 1.5% increase from a month ago.
As of November 1, current debts for which late payment fines are being calculated amounted to 61.6% of the total amount, or EUR 528.808 million.
Debts worth EUR 2.639 million have been declared uncollectable, mostly because of companies with a debt burden that have been declared insolvent.
Total tax debt at the beginning of 2024 stood at EUR 862.392 million.
Source: BNS
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