Tax collection keeps going up and up. Until September, tax revenue grew by 21.9%, to 13,033 million euros, according to the latest report from the Tax Agency published this Monday. The figure is 8.2% higher than the data recorded in the same month last year.
The accumulated growth is explained by two reasons: firstly, inflation, which has caused an improvement of 19.6% in VAT revenues; and employment, which has caused a growth of 12.7% in job retentions thanks to the rise in salaries and pensions.
In total figures, the Treasury has collected 13,033 million in September, 8.2% more, almost 1,000 above the 12,050 million entered in 2021. In the accumulated figure for the year, the Tax Agency has entered 181,830 million between January and September 2022 , above the 153,917 million that had been collected in the first nine months of 2021. It represents a growth in collection of 18.1%.
These accumulated data up to the end of the third quarter point to a record end of the year, where, if everything goes as before, the Tax Agency will accumulate historical income. But the growth of the collection has moderated in September, as highlighted by the treasury itself in its document. Specifically, the rate of improvement in revenue in September was lower than that observed in the rest of the year.
This moderation has its explanation and is due to two factors. In the first place, to the suspension of the electricity generation tax, which has led the Tax Agency to enter 372 million less. And, secondly, to the fact that gross income from VAT grew less in September than it was doing. Treasury assures that this situation in the consumption tax is transitory.
Public income, therefore, enjoys expected growth and this gives the Government room to expand or improve measures to fight inflation. In the budget plan sent to Brussels, the Ministry of Finance reserved a margin of 10,000 million, which could be more if collection continues to improve at this rate in the last three months of the year.
Income tax collection also grew by 11.5% in September, almost two points more than in August. In corporate income tax, income in September is not significant.
In the midst of the debate on taxes between the Government and the opposition, Eurostat has published today the tax pressure data. In 2021, Spain registers growth to reach 39% of taxes and social contributions in relation to GDP, which is 1.3% more than the previous year.
However, the tax pressure in Spain continues to be lower than the average for European countries, where it stands at 41.7%, and the euro zone, where it was 42.2% last year. Above are countries such as Denmark (48.8%), France (47%), Italy (43.6%) and Germany (42.4%).
