CIB: number of debtors before SRS continues to increase

The number of companies that are indebted to State Revenue Service continues to increase. Since May 2017, there has been an increase in the number of people engaged in business activities, as well as the number of debtors before SRS, according to data from the Credit Information Bureau.

CIB’s database has information about 44,000 businesses’ and more than 6,000 private persons’ tax debts before SRS for a total amount of more than EUR 1.1 billion.
 

«Since May we have been providing SRS tax debt monitoring. This means our database can be used to check if a company or a private person has any outstanding before the state. The number of debtors increased dramatically in summer – while there had been 6,000 of such individuals in May, their numbers reached 7,000 in July,» says CIB commercial director Intars Mikelsons.

Mikelsons continues: «The number of legal persons indebted to SRS also continued to increase in quarterly perspective».
 

According to CIB representative, the number of companies that have covered their outstanding debts before SRS has declined. While there had been 5,965 such companies in CIB database in June, their number was only 3,581 in August. «Slight statistical improvements observed in June and July are related to the submission of financial accounts. Unfortunately, the general situation offers nothing except an increase of the number of debtors,» CIB manager explains.
 

At the same time, CIB representatives say that monitoring of all debts in a unified database offers a way to assess businesses’ creditworthiness.

BNN/LETA

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