Finance

According to the data from the Ministry of Finance, during January and February the state budget collected 2 billion 441.8 million litas of revenue, and the forecast was 2 billion 822.9 million litas. During January and February 2009 the state budget revenue was 381.1 million litas, or 13.5 percent less than expected. Together with the European Union and other foreign assistance funds, in January-February the state budget collected 3 billion 277.2 million litas of revenue (EU assistance funds amounted to 835.4 million litas).
During January and February, the revenue was mainly generated from value added tax, i.e.
1 billion 381, 8 million litas – the plan was completed by 83.2 percent.
Income tax collected during January and February amounted to 70.8 million litas, which is 78.6 percent of the projection.
The excise revenue during this period was 534.4 million litas and it equals to 91.6 percent of the projected revenue.
National budget revenue from personal income tax amounted to 631.8 million litas, the projection is fulfilled by 106.5 percent.
Due to the tax reform this year, in January and February the state budget collected about 185 million litas more income than it would be collected without the reform. Due to the reform, within two months of this year the state budget collected 45.4 million litas more of excise duties, 138 million litas more of VAT and 13.2 million litas more of income tax. Only the revenue from GPM was less – 11.3 million litas.
The state budget revenue plan for 2009 is 25 billion 447.6 million litas, of which - 5 billion 467.9 million litas is support from the EU and other funds.