According to the latest data as of 15 May 2026, Latvian companies paid a total of EUR 11 billion into the State budget in 2025, representing a 6% increase compared to the previous year. Of the total amount, EUR 1.9 billion consisted of personal income tax (PIT), while EUR 3.9 billion accounted for state social insurance mandatory contributions (SSIC). In total, tax payments were made by nearly 138 thousand companies.

Wholesale and retail trade maintains the leading position

The wholesale and retail trade sector once again made the largest contribution to the State budget in 2025. Companies operating in the sector paid EUR 4.3 billion, of which EUR 308 million was personal income tax and EUR 688 million was mandatory social insurance contributions. Annual growth in the sector reached 3.6%. At the same time, data show that PIT payments in the sector declined by 6% compared to 2024.

Among companies in the sector, the largest taxpayer was Sabiedrība ar ierobežotu atbildību "NESTE LATVIJA", which paid EUR 209 million into the State budget in 2025. The company employed 57 people, for whom EUR 398 thousand was paid in PIT and EUR 764 thousand in state social insurance mandatory contributions. The company operates in retail fuel trade, therefore a significant share of its total tax payments consists of excise duty and VAT. According to the crediweb.lv TOP 501 largest Latvian companies ranking the company ranked 11th by turnover in 2024.

Tax payments in manufacturing increased by 6%

Manufacturing ranked second in terms of total payments into the State budget. Companies in the sector paid EUR 1.2 billion in 2025, including EUR 299 million in PIT and EUR 650 million in SSIC. Annual growth in the sector reached 6%.
A similar trend was observed in the sector - despite the increase in overall tax payments, PIT and SSIC payments declined compared to the previous year.

The largest taxpayer in the manufacturing sector was AS Amber Latvijas balzams, one of the leading alcoholic beverage producers in the Baltics, manufacturing more than 100 beverage brands. In this case as well, a substantial part of the company’s tax payments consists of excise duty. According to the crediweb.lv TOP 501 data, the company ranked 127th among Latvia’s largest companies by turnover in 2024.
At the same time, since 5 February 2026 the company has been undergoing a legal protection process aimed at restructuring its financial obligations.

Labour tax payments increase in the transportation and storage sector

The transportation and storage sector ranked third by total payments into the State budget. Companies in the sector paid EUR 842 million in 2025, including EUR 195 million in PIT and EUR 401 million in SSIC.
Unlike other major sectors, both PIT and SSIC payments in the transportation and storage sector increased compared to 2024.

The largest taxpayer in the sector was Air Baltic Corporation AS, which employed 2 630 people in 2025 and paid EUR 67.9 million into the State budget. The company operates in passenger air transportation and is Latvia’s national airline. Unlike fuel and excise goods traders, labour taxes account for a significant share of payments in the aviation sector, influenced by the large number of employees and the industry’s operational specifics.
According to the crediweb.lv TOP 501 largest Latvian companies ranking Air Baltic Corporation AS was the fourth largest company in Latvia by turnover in 2024, despite recording losses of EUR 118 million.

Sector contributions to the State budget in 2025

NACE Rev.2.1 sector	Total payments in the State budget in 2025, EUR	PIT in 2025, EUR	SSIC in 2025, EUR
Wholesale and retail trade	4 295 802 880	688 708 420	307 918 760
Manufacturing	1 185 265 540	650 683 940	298 853 990
Transportation and storage	842 120 340	400 840 460	194 993 650
Telecommunication, computer programming, consulting, computing infrastructure and other information service activities	790 966 260	352 763 110	193 086 540
Professional, scientific and technical activities	567 271 440	222 468 900	118 372 450
Human health and social work activities	558 921 290	341 986 460	177 494 420
Real estate activities	445 868 840	98 430 670	51 990 220
Administrative and support service activities	417 660 900	189 847 150	92 202 480
Electricity, gas, steam and air conditioning supply	375 936 400	81 044 130	41 803 870
Accommodation and food service activities	315 129 350	133 471 840	52 948 510
Construction	298 718 250	314 466 110	149 932 040
Arts, sports and recreation	203 476 570	60 474 130	38 495 380
Agriculture, forestry and fishing	181 779 020	133 124 790	75 499 570
Water supply; sewerage, waste management and remediation activities	175 927 030	49 719 360	23 411 830
Other service activities	134 261 990	56 325 230	21 127 460
Education	72 781 240	40 456 620	21 428 820
Publishing, broadcasting, and content production and distribution activities	64 627 790	29 685 160	20 510 570
Mining and quarrying	46 135 320	23 604 110	12 576 460
Financial and insurance activities	33 473 760	11 961 310	9 726 230
Public administration and defence; compulsory social security	30 007 300	13 455 640	6 755 560
Activities of households as employers and undifferentiated goods- and service-producing activities of households for own use	96 630	49 190	17 900

Different tax structures across industries

The 2025 data reveal significant differences between industries both in terms of total tax payments and tax structure. The wholesale and retail trade sector alone accounted for nearly 40% of all corporate payments into the State budget.
At the same time, labour taxes make up a substantial share of payments in the transportation, construction and manufacturing sectors, while tax payments made by fuel, tobacco and energy trading companies are heavily influenced by excise duty and VAT. Therefore, a high position in the tax payment ranking does not necessarily directly reflect a company’s profitability or the amount of profit generated.