Public collection is in figures never seen. Compared to last year, tax revenues grew by 16.8% up to November, an impulse in which they have a lot to do VAT (triggered by inflation) and the personal income tax (whose increase is linked to the growth of employment and tax bases). However, this evolution has also had an impact government-approved tax increases. In fact, they are part of the reasons that have allowed the Tax Agency (AEAT) have earned four times more with the last tax return.
It indicates so the last monthly report prepared by the organ, corresponding to November. In it, the Tax Agency admits that “one of the elements that explains the growth in collection in 2022 is the positive share of the annual declaration” Personal income tax, corresponding to 2021.
The last income campaign has allowed revenue of 14,509 million euros, 26.7% more than the previous. On the other hand, refunds to taxpayers have been reduced to 10,101 million, 2.6% less.
[Las inspecciones fiscales a las grandes fortunas suben un 136% desde 2018 y los ingresos por ellas se elevan un 55%]
This indicates that the net income, the ‘earnings’ of the Treasury, They have reached 4,408 million euros in the last income campaignfour times more than in the 2020 personal income tax campaign.
According to the Tax Agency, this significant increase has several causes. Between them, tax regulations that came into force last year. The Agency highlights the rate rise in the savings base and the modification of the limits on contributions to pension plans.
The AEAT also highlights the role of “income not fully subject to withholdings or payments on account (economic activities and capital gains)” in the increase in income from the personal income tax campaign.
The truth is that income through personal income tax is in historical numbers. Compared to last year, revenues rose by 16.3% up to November, reaching a record level of 102,590 million euros.
Another reason that explains this collection improvement is the increase in “withholdings from work” through personal income tax. “They grew by 12.5% for the year as a whole, as a result of the increase in employment and the increases in average wages and pensions and in the effective rate.”
On the other hand, it also highlights VAT revenue growth, up 19% year-on-year, up to 79,726 million euros. This evolution is mainly due to price increases and “the expansion of consumption”, according to the Tax Agency.
[El Gobierno estudia reducir el IVA de los alimentos y llegar a otros acuerdos con las grandes cadenas de supermercados]
And the rise could have been even higher. If the application had not been electricity VAT reductionthe increase in income through this tax figure would be 20.9%.
In fact, the fiscal measures activated to lower the energy bill have subtracted about 6,149 million euros to public coffers.
Despite this, total tax revenue in November reached 239,789 million euros. An amount that exceeds everything collected in 2021 and what the Ministry of Finance had estimated for this year.