Follow Latvia Investment Immigration and Latvia Economic news: According to data from the State Revenue Service (VID) of Latvia, due to the effectiveness of combating the shadow economy and the increase in residents' business activities, in the first quarter of 2015, Latvia's tax revenue reached 1.702 billion euros, an increase of 6.3% year-on-year.
Among them, social insurance tax was 548 million euros, value-added tax was 434 million euros (with a refund of overpaid taxes of 24 million euros), personal income tax was 333 million euros (with a refund of overpaid taxes of 10.92 million euros), consumption tax was 181 million euros, corporate income tax was 90.02 million euros (with a refund of overpaid taxes of 5.89 million euros), customs duties were 10.09 million euros, and other taxes were 55.68 million euros.
The State Revenue Service of Latvia was established in 1993 and is under the Ministry of Finance of Latvia.
