Tax revenues in 2025 amounted to 15.173 billion euros, which is 194 million euros or 1.3% less than planned, the Ministry of Finance reported to LETA.
At the same time, tax revenues in 2025 were 768.8 million euros or 5.3% higher than in 2024.
A total of 14.369 billion euros in taxes was collected in the general state budget in 2025, which is 183.3 million euros or 1.3% less than planned.
In particular, the state budget received 11.948 billion euros in taxes — 202.8 million euros or 1.7% less than planned, while local government budgets received 2.421 billion euros, which is 19.5 million euros or 0.8% more than planned.
The pension accumulation scheme received 803.8 million euros last year, which is 10.7 million euros or 1.3% less than planned.
The most was collected last year from social insurance contributions — 5.618 billion euros, which is 1% less than planned.
Revenue from value-added tax (VAT) amounted to 4.1 billion euros — 3.4% less than planned, while revenue from personal income tax (PIT) was 2.768 billion euros, which is 1.2% more than planned.
Revenue from excise tax amounted to 1.245 billion euros — 5.3% less than planned. This includes:
- on petroleum products — 626 million euros (2.3% less than planned),
- on tobacco products — 290.8 million euros (5.2% less),
- on alcoholic beverages — 213.3 million euros (9.2% less),
- on beer — 55.3 million euros (9.2% less),
- on natural gas — 21.3 million euros (5.6% more than planned).
Revenue from corporate income tax in 2025 amounted to 787.6 million euros — 14% more than planned, while revenue from property tax was 241.1 million euros (0.1% less).
The vehicle operation tax brought in 113.4 million euros (4.6% less), while customs duties amounted to 75.6 million euros (12.3% more than planned).
Revenue from solidarity contributions amounted to 74.1 million euros (20.3% less than planned), from natural resources tax — 61.3 million euros (31.4% less), and from lottery and gambling tax — 55.3 million euros (4.9% less).
Revenue from corporate passenger vehicle tax amounted to 29.5 million euros (3.5% less), and from electricity tax — 5.1 million euros (1.7% less).
The Ministry of Finance notes that consolidated general budget revenues in 2025 amounted to 17.8 billion euros — 606.7 million euros or 3.5% more than in 2024. The basis consisted of tax revenues — 14.3 billion euros, including balances in the single tax account, which is 755.2 million euros or 5.6% more than the previous year, in line with the growth of nominal GDP.
In 2024, the growth of tax revenues was higher — 7.8%, mainly due to increased revenues from labor taxes and additional income from the banking sector.
The shortfall in the tax plan in 2025 is mainly related to lower revenues from VAT and excise taxes — by 145.8 and 69.2 million euros respectively, as well as solidarity contributions — by 18.9 million euros. Revenues from natural resources tax were 28.1 million euros less than planned due to lower incomes from new taxable items — single-use plastic products and fishing gear containing plastic.
Labor tax revenues in 2025 were influenced by tax reform: the redistribution of 1 percentage point of contributions from state social insurance from the accumulation to the basic pension level, increased benefits for PIT, and other measures compensated by the growth of the wage fund.
According to the State Revenue Service, the wage fund in December 2024 and for 11 months of 2025 grew by 6%, driven by the increase in the minimum wage and government decisions to raise salaries in certain categories of the public sector. Thus, contributions to state social insurance (excluding the accumulation part) amounted to 4.8 billion euros — 416 million euros or 9.5% more than in 2024.
Revenue from PIT amounted to 2.8 billion euros — 43.2 million euros or 1.5% less than in 2024, but 31.9 million euros more than planned. Already in the first months of 2025, revenues exceeded the plan, thanks to salaries for December 2024 paid in January.
Revenue from consumer taxes in 2025 continued to grow steadily. VAT revenue amounted to 4.1 billion euros — 217.4 million euros or 5.6% more than in 2024, when growth was only 0.1%. The growth was particularly active in the second half of the year, indicating an economic recovery. Significant revenues were provided by the sectors of trade, transport, telecommunications, and manufacturing, as well as the public sector and defense due to settlements for implemented projects.
Revenue from excise tax amounted to 1.2 billion euros — 54 million euros or 5.4% more. The main contribution came from petroleum products and tobacco products, which is related to the increase in rates from January 1, 2025.
Corporate income tax increased by 68.1 million euros or 9.5%, to 787.6 million euros. This is explained by above-plan revenues in January against the backdrop of mass profit distribution and dividend payments at the end of 2024 in anticipation of the introduction of an additional PIT rate of 3% on income over 200,000 euros.
Revenue from natural resources tax amounted to 61.3 million euros — 4.8 million euros or 7.3% less than the previous year, due to reduced waste disposal volumes at landfills, development of recycling and sorting, as well as high water levels in 2024, which ensured record hydroelectric power generation. In 2025, the use of water resources for energy production decreased.
Non-tax revenues of the general budget amounted to 1.1 billion euros — 74.3 million euros or 6.1% less. The decline was caused by a decrease in dividends from "Latvijas valsts meži" and "Latvenergo", as well as the absence in 2025 of a banking contribution of 73.1 million euros to support mortgage borrowers, which was present in 2024.
Revenue from paid services amounted to 566.5 million euros — 34.6 million euros or 6.5% more than in 2024. In the state budget, revenues increased by 18.1 million euros, including 8.7 million euros more from tuition fees and 4.9 million euros from scientific projects in the budgets of public entities. At the same time, in local government budgets, revenues from paid services decreased by 5.9 million euros, mainly due to lower revenues from utility services.
Revenue from external financial assistance amounted to 1.7 billion euros — 109.5 million euros or 6% less than the previous year, in line with the investment cycle. In December 2025, 392 million euros were received from the European Commission. It is expected that in 2026, income from interim and advance payments from the EU for funds and the Recovery Fund will significantly increase, improving cash flow balance.
Tax revenues for 2025 were planned at 15.367 billion euros.
