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The total anticipated income of the aforementioned budgets for the ten months of 2020 is 9,550.3 million. 8,591.2 million real euros. EUR, that is, 10%. (959.1 million euros) less than expected.
According to the press release, the state budget revenues amounted to 6,985.4 million. euros. This is 2.9 percent. (210.8 million euros) less than in the same period of the previous year and 11.6% (912.9 million euros) less than expected.
Tax revenue to the state budget amounted to 6,484.2 million LTL. euros. This is 145.4 million. EUR or 2.2%. less than in January-October 2019 and 787.3 million. EUR (10.8%) less than expected.
Due to the possibility that companies defer the payment of taxes from companies affected by Covid-19, the non-payment of the State Tax Inspection and Customs on October 29. amounted to 774.6 million. euros.
In January-October 2020, LTL 2,917 million were received from value added tax (VAT). income in euros. This is 247.1 million. EUR (7.8%) less than in the same period of 2019 and 565 million euros. EUR (16.2%) less than expected.
Ten-month VAT revenue lower than expected was due to the negative impact of the spread of the Covid-19 virus on the economy and the increase in VAT arrears due to the decisions of companies affected by Covid-19 to postpone Payments.
Income from the state and municipal budget for the personal income tax (IRPF) in January-October 2020 amounted to 2,750.1 million LTL. euros. This is 36.3 million. EUR (1.3%) more than in the same period of 2019 and 187.6 million euros. EUR (6.4%) less than expected.
The lower-than-planned PIT revenue collection was due to the negative impact of the Covid-19 virus crisis on the labor market, the increase in tax-free income in the middle of the year and the increase in deferred payment arrears from the PIT.
LTL 1,289 million was received for all excise goods. EUR 45.2 million (3.6%) more than in January-October 2019 and EUR 50.9 million. EUR (3.8%) less than expected. The lower-than-expected ten-month excise income 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 postponement affected by COVID-19.
The income tax received was 619.1 million. 9.7 million euros. EUR (1.6%) more than in January-October 2019 and 70.7 million. EUR or 10.2%. less than planned. The lower-than-expected income tax revenue was due to companies’ choice to change the way anticipated income tax is calculated, reassessing future profitability in 2020 due to the impact of Covid-19, as well as to the increase in corporate tax arrears due to deferral decisions affected by Covid-19.
Income from the sale of other income, tangible and intangible assets and reduction of financial assets to the state budget amounted to LTL 501.2 million. EUR, that is, 11.5%. (65.3 million euros) less than in January-October 2019 and 20%. (125.6 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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