Lithuania’s 11-Month Budget Revenue Exceeds Plan on Income Tax

Lithuania collected more revenue than planned in the first 11 months on higher-than-predicted income and corporate taxes.

Revenue increased 7 percent from the same period of 2011 to 18.93 billion litai ($7.15 billion), 318 million litai more than envisaged, the Finance Ministry in the capital, Vilnius, said today on its website.

Revenue from personal income tax was 3.5 billion litai, 227 million litai more than planned, while profit tax proceeds were 1.13 billion litai, 91 million litai more than estimated, the ministry said. Excise taxes were 3.03 billion litai, 53 million litai less than planned, while value-added tax was 8.29 billion litai, 34 million litai less than budgeted.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net