Monthly Tax Revenue Reports

The Monthly Tax Revenue Report (IMRT) shows the level and monthly evolution of tax revenues managed by the Tax Agency on behalf of the State. and the Local Authorities (CC. LL). of the Common Tax Regime Territory.

IMRT tax revenues are presented on a cash and liquid basis, i.e. as the difference between gross revenues and refunds made.

TOTAL TAX REVENUE OCTOBER 2025

October’s collection is the most relevant one across the year, as accounts for the usual monthly self-assessments, SMEs’ third quarter withholdings’ and VAT self-assessments, personal businesses’ third quarter instalment payment and the second PIT instalment payment including the settlement of the core semester of the year.

In October, tax revenues reached €52.8 billion, 5.9% above the same month of 2024. The progress was the result of an increase of 6.1% in gross revenues and 7.6% in refunds paid.

In view of October data, accumulated revenue in the year to date grow by 9.3% compared to the January-October period last year. Growth stays at 9.6% in the case of gross revenues, while refunds paid increase by 11.1%. On its side, homogeneous tax revenues expanded by 10.8% in the first ten months of the year (11.9% up to September).

The loss of momentum in the growth of homogeneous revenues observed in October is mainly (although not solely) due to the evolution of the Corporation Income Tax instalment payments, which only increased by around 4% compared to almost 14% in March. The reason is the remarkable slowdown in the profits of consolidated Groups, which in the first quarter declared positive results with an increase of 23.5% over the previous year and in the second payment reported an increase of 4.8%. For the year as a whole, payments grow by 7.3%, which is a rate similar to that recorded by other taxes; however, as the tax is declared on cumulative terms, October’s figure was low. As regards the remaining tax figures, on the other hand, the increase in revenue in October continued to be sizable. Thus, the growth of withholdings on earned income exceeded 8%, it almost reached 7% in the case of gross VAT and it stood above 9% for PIT instalment payments. Although the dynamism of these revenues is not always the same as in the first part of the year, their high growth throughout the year, together with that of other tax figures such as the Non-Residents Income Tax (which expands by almost 31% until October), and the contribution of regulatory changes, explain the near 11% growth of homogeneous revenues.

Next release: 22 December 2025 (November 2025 report)