Summary

Collection reached 223,385 million euros in 2021, 15.1% more than in 2020 .

The comparison with 2020, a year conditioned by the effects of the pandemic, does not allow a clear assessment of the evolution of 2021 collection. Therefore, it is better to do the comparative analysis with 2019 income. Collection in 2021 exceeded that of two years ago by 5%, with positive results in the main figures (IRPF, Corporate Tax, VAT) with the only exception of Special Taxes.

The positive evolution of the tax bases , with an estimated growth of 12.7%, was the fundamental cause of the increase in income. Compared to 2019, the increase in bases was greater than 4%. The trajectory of the bases throughout the year was, logically, determined by the comparison with what happened in 2020. The year began with moderate growth due to the continued maintenance of limitations on mobility and activity, to rebound sharply in the second quarter in response to the intense drop in activity that occurred the previous year, and to remain stable in the second half of the year. at rates slightly higher than 13%. Both income before taxes and expenses subject to VAT closed the year with levels higher than those reached in 2019 (5.4% for the former, 3% for the latter). Only in the case of consumption subject to excise tax, the progress achieved in 2021 was not enough to recover pre-pandemic records.

Regulatory and management changes that affected revenue in 2021 were numerous, but their net impact was insignificant. It is estimated that the set of measures represented a loss of 501 million compared to the previous year.

The economic context was characterized by the constant improvement in activity and the rise in prices. After a problematic start marked by the effects of the third wave of infections and the impact of Storm Filomena, the evolution of the main activity indicators was in continuous progress, especially in the second half of the year. Real GDP, which in the first quarter showed a decline of 0.5% compared to the last quarter of 2020, increased by an average of 2.4% in the second half. Even so, at no time did real GDP exceed 2019 records. For its part, affiliation began to register growth compared to 2019 figures starting in June and the figure for December was already 2% higher than the same month of that year, although the comparison continued to be conditioned by the validity of the ERTE. . Something similar was observed in daily sales provided by the Immediate Supply of VAT Information system , the closest available indicator to the present. Until the end of March, sales were even lower than those of 2020, but, after that month, sales recovered and since August they were decidedly above those of 2019, ending the year with growth of more than 20% compared to to 2020 and 4% compared to 2019 as a whole. The improvement in daily sales was influenced by both the real component and price increases, which became more pronounced as the year progressed. Industrial prices (without energy) had begun to recover the growth rates prior to the pandemic in the last months of 2020 and from the first months of 2021 they showed a clear upward trend, although this was not reflected in the central core of the prices of consumption until the second half of the year. Energy prices were added to this process, with very intense increases since March. The final result was that, although in the average of the year the CPI only increased by 3.1% (0.8% the underlying), in recent months the highest increases in many years were recorded.

Income increased in all major figures and, except in the II.EE., the amounts collected in 2019 were exceeded . Income in Personal Income Tax grew by 7.5%, after being one of the few figures that grew in 2020 due to the contribution of public income (salaries, pensions, transfers linked to ERTE and aid to the self-employed). In Corporate Tax income increased by 67.9%, 12.2% compared to 2019, thanks to the intense recovery of profits and, with them, installment payments. In VAT the growth was 14.5% (+1.3% if the comparison is made with 2019), in line with the recovery of subject spending. Special Taxes grew by 5%, but the recovery in consumption was not enough and they closed the year with income 7.7% lower than in 2019.