Why can a company with few staff pay so much?

The total includes the VAT and excise duty a company pays over on the goods it sells. For fuel, alcohol and tobacco traders these make up most of the total, so they can rank high with few employees. The “Labour taxes” column shows how much of the total is income tax and social contributions.

Why can a company’s total be negative?

VID publishes the total net of refunds. If a company got back more VAT in the year than it paid, an exporter for instance, the total is negative.

Does the list include every company?

It includes the merchants for which VID publishes taxes paid. Institutions, associations and farms are not in it. If a company is in a VAT group, VID publishes the group’s VAT separately, so it may not be in the company’s own total.

How often is the data updated?

Fakts loads the VID and Register of Enterprises data every night. A new year appears once VID publishes it.

Largest taxpayers

Largest taxpayers in Latvia in 2024

The selection “NACE 64 Financial service activities, except insurance and pension funding” has 1,933 companies in 2024, which together paid €325.3 million in taxes administered by VID. The largest payer is "Swedbank" AS with €76.7 million (updated 24/09/2026).

Largest taxpayers in the selection

Taxes administered by VID, net of refunds. The change compares the same company's total a year earlier.

Industry

Municipality

Clear the selection

Largest taxpayers in the selection
No.	Company	Industry	Municipality	Taxes paid, € million	Labour taxes, € million	Staff	Change
1	"Swedbank" AS	64 Financial service activities, except insurance and pension funding	Riga	76.7	25.6	1,352	+187.2%
2	Luminor Bank AS Latvijas filiāle	64 Financial service activities, except insurance and pension funding	Riga	37.0	20.9	923	+110.7%
3	AS "Citadele banka"	64 Financial service activities, except insurance and pension funding	Riga	34.5	20.7	943	+101.0%
4	SKANDINAVISKA ENSKILDA BANKEN AB Rīgas filiāle	64 Financial service activities, except insurance and pension funding	Riga	20.0	19.4	1,335	+10.6%
5	AS "Rietumu Banka"	64 Financial service activities, except insurance and pension funding	Riga	14.1	10.6	412	+16.9%
6	Swedbank AB (publ) Latvijas filiāle	64 Financial service activities, except insurance and pension funding	Riga	11.6	11.3	577	+13.5%
7	BluOr Bank AS	64 Financial service activities, except insurance and pension funding	Riga	11.2	7.2	240	+136.3%
8	Signet Bank AS	64 Financial service activities, except insurance and pension funding	Riga	6.1	4.5	166	+66.3%
9	AS "DelfinGroup"	64 Financial service activities, except insurance and pension funding	Riga	6.0	5.0	368	+7.3%
10	Swedbank Baltics AS	64 Financial service activities, except insurance and pension funding	Riga	5.6	3.9	172	+60.7%
11	AS "Attīstības finanšu institūcija Altum"	64 Financial service activities, except insurance and pension funding	Riga	5.6	4.5	264	+15.2%
12	SIA "4finance"	64 Financial service activities, except insurance and pension funding	Riga	5.3	4.6	195	+8.7%
13	AS "Reģionālā investīciju banka"	64 Financial service activities, except insurance and pension funding	Riga	5.3	3.0	138	+111.1%
14	AS "Industra Bank"	64 Financial service activities, except insurance and pension funding	Riga	4.8	3.7	190	+47.7%
15	AS Magnetiq Bank	64 Financial service activities, except insurance and pension funding	Riga	4.0	3.7	183	−3.9%
16	Bigbank AS Latvijas filiāle	64 Financial service activities, except insurance and pension funding	Riga	3.3	1.4	90	+207.6%
17	ABLV Bank, AS	64 Financial service activities, except insurance and pension funding	Riga	3.3	3.2	87	−33.3%
18	SIA "IPF Digital Latvia"	64 Financial service activities, except insurance and pension funding	Riga	3.2	0.7	38	−18.8%
19	"Swedbank Līzings" SIA	64 Financial service activities, except insurance and pension funding	Riga	2.7	0.7	59	+20.7%
20	OP Corporate Bank plc filiāle Latvijā	64 Financial service activities, except insurance and pension funding	Riga	2.4	1.2	43	−25.3%
21	SIA "Inbank Latvia"	64 Financial service activities, except insurance and pension funding	Riga	2.3	0.6	35	+94.8%
22	SIA "InCREDIT GROUP"	64 Financial service activities, except insurance and pension funding	Riga	2.3	1.5	94	+9.8%
23	AS Eleving Consumer Finance	64 Financial service activities, except insurance and pension funding	Riga	2.3	2.5	102	+78.5%
24	SIA "AIZDEVUMS.LV"	64 Financial service activities, except insurance and pension funding	Riga	2.0	1.4	97	+31.3%
25	SIA "Citadele Leasing"	64 Financial service activities, except insurance and pension funding	Riga	2.0	1.5	73	−21.8%
26	SIA "EXTRA CREDIT"	64 Financial service activities, except insurance and pension funding	Riga	1.9	0.2	12	+309.8%
27	AS "CleanR Grupa"	64 Financial service activities, except insurance and pension funding	Riga	1.8	1.0	33	+61.0%
28	SIA Latreco	64 Financial service activities, except insurance and pension funding	Riga	1.7	0.0	0	–
29	AS "West Kredit"	64 Financial service activities, except insurance and pension funding	Riga	1.4	0.7	28	+140.3%
30	AS "PNB Banka"	64 Financial service activities, except insurance and pension funding	Riga	1.3	1.0	52	−17.6%
31	SIA "SEB līzings"	64 Financial service activities, except insurance and pension funding	Ķekava Municipality	1.3	0.3	19	+12.6%
32	AS INDEXO Banka	64 Financial service activities, except insurance and pension funding	Riga	1.2	1.1	49	+85.3%
33	Jitbit Baltic SIA	64 Financial service activities, except insurance and pension funding	Jūrmala	1.1	0.0	1	+35.1%
34	AS TWINO Investments	64 Financial service activities, except insurance and pension funding	Riga	0.8	0.8	28	+44.9%
35	FORTIS VM SIA	64 Financial service activities, except insurance and pension funding	Sigulda Municipality	0.8	0.5	40	+23.8%
36	SIA "VITA CREDIT"	64 Financial service activities, except insurance and pension funding	Riga	0.8	0.7	79	+8.7%
37	Baltic International Bank SE	64 Financial service activities, except insurance and pension funding	Riga	0.8	0.8	42	−69.0%
38	Luminor Līzings SIA	64 Financial service activities, except insurance and pension funding	Riga	0.8	0.4	31	+103.0%
39	SIA "E LATS"	64 Financial service activities, except insurance and pension funding	Riga	0.8	0.6	55	+12.2%
40	Avafin Latvia SIA	64 Financial service activities, except insurance and pension funding	Riga	0.8	0.7	40	+9.8%
41	"VFS Latvia" SIA	64 Financial service activities, except insurance and pension funding	Ropaži Municipality	0.7	0.3	10	+148.8%
42	AS Antares Venture Capital	64 Financial service activities, except insurance and pension funding	Riga	0.7	0.6	7	+20.5%
43	SIA "L.I.S. Group"	64 Financial service activities, except insurance and pension funding	Riga	0.7	0.6	2	+247.0%
44	Rigensis Capital AS	64 Financial service activities, except insurance and pension funding	Riga	0.6	0.5	7	−18.4%
45	SIA ViziaFinance	64 Financial service activities, except insurance and pension funding	Riga	0.6	0.0	1	+6,405.3%
46	SIA "DEV"	64 Financial service activities, except insurance and pension funding	Riga	0.6	0.0	2	–
47	Mogotel development holding SIA	64 Financial service activities, except insurance and pension funding	Riga	0.5	0.4	28	+33.0%
48	SIA AJ Power Holding	64 Financial service activities, except insurance and pension funding	Riga	0.5	0.3	13	+8.2%
49	AS "AGROLATS HOLDING"	64 Financial service activities, except insurance and pension funding	Dobele Municipality	0.5	0.5	24	−15.0%
50	SIA "Manas MĀJAS"	64 Financial service activities, except insurance and pension funding	Riga	0.5	0.3	29	+26.4%
51	SIA "OC Finance"	64 Financial service activities, except insurance and pension funding	Riga	0.5	0.1	9	+424.1%
52	SIA "Madara 89 grupa"	64 Financial service activities, except insurance and pension funding	Smiltene Municipality	0.5	0.3	8	+19.9%
53	SIA "VIA SMS"	64 Financial service activities, except insurance and pension funding	Riga	0.5	0.3	19	+46.7%
54	Baltic Renewables Latvia SIA	64 Financial service activities, except insurance and pension funding	Riga	0.5	0.0	2	+3,472.0%
55	AS "Primero Finance"	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.4	33	+24.3%
56	Holm Bank Latvia SIA	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.3	20	−3.0%
57	SE "Capitalia"	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.4	19	+58.0%
58	AS "Grand Credit"	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.3	20	+13.0%
59	PACCAR FINANCIAL NEDERLAND B.V.	64 Financial service activities, except insurance and pension funding		0.4	0.0	0	+1,406,333.3%
60	AS "Storent Europe"	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.4	10	–
61	AS "mogo"	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.3	25	−14.9%
62	SIA "MM investīcijas"	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.0	4	+186.9%
63	Luminor Asset Management IPAS	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.3	16	+21.4%
64	SIA Mintos Finance No.10	64 Financial service activities, except insurance and pension funding	Riga	0.4	0.4	0	+26.4%
65	Syzygy Capital, AS	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	2	+1,663.3%
66	AmberStone Group, AS	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	15	+66.5%
67	AS Longo Group	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.4	17	−1.2%
68	SIA Coffee Address Holding	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	8	+50.4%
69	SIA Mintos Finance No.27	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	0	+77.7%
70	SIA "Vides investīciju fonds"	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	24	+32.8%
71	AS "LATEKO LĪZINGS"	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	34	−7.5%
72	SIA "Ezerkauliņi Agro"	64 Financial service activities, except insurance and pension funding	Salaspils Municipality	0.3	0.3	25	−8.1%
73	TF Bank AB Latvijas filiāle	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	18	−6.8%
74	SIA "VIAINVEST Assets"	64 Financial service activities, except insurance and pension funding	Riga	0.3	0.3	0	+68.5%
75	SIA "Emteko Holding"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	11	+20.3%
76	SIA "OSTAS FLOTE"	64 Financial service activities, except insurance and pension funding	Ventspils	0.2	0.2	9	+162.4%
77	SIGNET ASSET MANAGEMENT LATVIA IPS	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	11	+155.7%
78	"E.G. IEGULDĪJUMI" SIA	64 Financial service activities, except insurance and pension funding	Smiltene Municipality	0.2	0.0	0	–
79	Dukascopy Europe IBS AS	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	51	−12.8%
80	SIA "CTB HOLDINGS"	64 Financial service activities, except insurance and pension funding	Liepāja	0.2	0.1	11	+4.2%
81	SIA "Flashpoint Management Consultants Latvia"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	8	+30.9%
82	SIA "LK Hub"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.0	2	+5,288.4%
83	Indemo SIA	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	13	+236.9%
84	AS "PANORAMA HOLDING"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.1	10	+20.5%
85	AS Hipocredit	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.1	9	+160.8%
86	SIA "Finance 360"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	36	+3.0%
87	SIA "Vizii Management"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.1	7	−60.5%
88	SIA Mintos Finance No.6	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	0	−42.2%
89	SIA "AgroCredit Latvia"	64 Financial service activities, except insurance and pension funding	Mārupe Municipality	0.2	0.1	7	+75.2%
90	SIA "MN Holding"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	13	−47.5%
91	RENTA PUMPS GROUP SIA	64 Financial service activities, except insurance and pension funding	Ropaži Municipality	0.2	0.2	7	+34.2%
92	ESTO LV AS	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.1	5	+65.5%
93	SIA Mintos Finance No.20	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	0	−38.1%
94	AS "NORD Credit"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.1	16	+1.6%
95	"UGN" AS	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	11	−4.6%
96	SIA "Port City Group"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.1	5	−27.5%
97	SIA PATA FINANCE	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	12	+20.8%
98	SIA smeGo Latvia	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	11	+23.3%
99	SIA "Flexidea"	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.2	6	+38.1%
100	AS "Aquarium Investments" IPS	64 Financial service activities, except insurance and pension funding	Riga	0.2	0.1	8	+31.4%

How the figures are compiled

The source is the State Revenue Service (VID) open dataset of taxes administered by VID paid by merchants in the last three tax years, published on data.gov.lv under CC0. VID republishes it in place with only the latest years, so Fakts keeps every year once it appears and restored the older years from copies saved by the Internet Archive.

The amount is the total of taxes administered by VID that a merchant paid in the tax year, in thousands of euro. It includes, for example, VAT, excise duty, corporate income tax, personal income tax and state social insurance contributions. VID publishes it net of refunds, so a merchant that got back more than it paid shows a negative total.

Labour taxes are personal income tax and state social insurance contributions, which VID states separately. Staff is VID’s average number of employees in the year. The change compares the same merchant’s total with the year before.

The industry is the main NACE code VID holds for that year. The municipality and the name come from the company’s current entry in the Register of Enterprises.

The data covers merchants: limited liability companies, joint-stock companies, individual merchants, partnerships and branches of foreign merchants. State and municipal institutions, associations and farms are not included.

Sources

Taxes administered by VID paid by merchants in the last three tax years, State Revenue Service of Latvia (VID)
Register of Enterprises open data, Register of Enterprises of the Republic of Latvia

Fakts compiles these figures from the datasets above, published on data.gov.lv under the CC0 licence. They are not official statistics.

Questions

Which taxes are included in the total?: Every tax administered by VID that the merchant paid in the year, for example VAT, excise duty, corporate income tax, personal income tax and social contributions. VID publishes the total net of refunds.
Why can a company with few staff pay so much?: The total includes the VAT and excise duty a company pays over on the goods it sells. For fuel, alcohol and tobacco traders these make up most of the total, so they can rank high with few employees. The “Labour taxes” column shows how much of the total is income tax and social contributions.
Why can a company’s total be negative?: VID publishes the total net of refunds. If a company got back more VAT in the year than it paid, an exporter for instance, the total is negative.
Does the list include every company?: It includes the merchants for which VID publishes taxes paid. Institutions, associations and farms are not in it. If a company is in a VAT group, VID publishes the group’s VAT separately, so it may not be in the company’s own total.
How often is the data updated?: Fakts loads the VID and Register of Enterprises data every night. A new year appears once VID publishes it.

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