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State budget revenue was LTL 5,415.6 million. euros. This is 6.2 percent. (358.4 million euros) less than in the same period of the previous year and 13.9% (871.7 million euros) less than expected. State budget revenue in August was 33.2 million. EUR (5%) more than in August of last year and 42.7 million euros. EUR (5.7%) lower than expected.
State budget tax revenue amounted to LTL 5,057.8 million. euros. This is 231.6 million. EUR or 4.4%. less than in January-August 2019 and 736.3 million. EUR (12.7%) less than expected.
The August revenues illustrate the results of operations in July, taking into account deferred corporate payments. Due to the continuing emergency, companies still took the opportunity to defer taxes: arrears of companies affected by COVID-19 before the State Tax Inspection and Customs increased by about 68 million in August. at the end of the month it amounted to about 699 million. euros. When evaluating August state and municipal budget revenue along with deferred payments, August is the first month after quarantine that the revenue plan would be met (100.9 percent).
In January-August 2020, LTL 2,295.6 million were received from value added tax (VAT). income in euros. They are 271.9 million. EUR (10.6%) less than in the same period of 2019 and 537.9 million euros. EUR (19%) less than expected. During August, the VAT received 348.8 million. euros. After the quarantine, this is the first month in which VAT revenue was received more than a year ago (9.7 million euros or 2.9%) and 19.0 million euros. EUR (5.2%) less than expected. The July turnover of companies affected by COVID-19 approached the level of July last year, and VAT was declared more than a year ago.
Income from the personal income tax (IRPF) from the state budget and municipal budgets in January-August 2020 was LTL 2,175.8 million. euros. That is 25.5 million. EUR (1.2%) more than in the same period of 2019 and EUR 161.1 million. EUR (6.9%) less than expected. In August alone, GPM’s revenue was $ 260.7 million. 14.2 million euros. EUR (5.2%) less than in August of the previous year and 39.8 million euros. EUR (13.2%) less than expected. GPM’s lower-than-planned revenue collection was due to the negative impact of the COVID-19 crisis on the labor market and increased GPM deferred payment arrears.
997.6 million were received for all products subject to excise duties. EUR 9 million (0.9%) more than in January-August 2019 and EUR 48.4 million. EUR (4.6%) less than expected. Excise tax revenue was LTL 154.2 million in August. euros. This is 21.4 million. EUR (16.1%) more than in August last year and EUR 3.5 million. EUR (2.4%) more than expected. The lower-than-expected eight-month excise revenue was due to a significant decrease in wholesale sales of fuel and cigarettes during the quarantine period, as well as an increase in excise duty arrears due to decisions deferral affected by COVID-19.
The income tax received 455 million. 1.2 million euros. EUR (0.3%) more than in January-August 2019 and 62.0 million euros. EUR or 12%. less than planned. The income from income tax less than planned was due to the choice of companies to change the method of calculation of the anticipated income tax, reassessing the future profitability for 2020 due to the impact of COVID-19.
The income from the August income tax is incidental, since there were no terms for the payment of this tax. During the month of August, income taxes were collected in the amount of LTL 11.0 million. euros. This is 16.2 million. 11 million euros more than in August last year and more than planned.
Income from the sale of other income, tangible and intangible assets and reduction of financial assets to the state budget amounted to LTL 357.8 million. EUR, that is, 26.2%. (126.8 million euros) less than in January-August 2019 and 27.4%. (135.4 million euros) less than expected.
The approved state budget revenue plan for 2020 (excluding EU funds) amounts to 9,547.9 million LTL. 11,530.3 million euros with EU funds. euros.
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