5. Special Taxes

The Special Taxes were the ones that, among the large figures, registered the lowest growth in 2022. Thus, revenue from these taxes increased by 2.5% to €20,224 million, still below (-5.4%) the 2019 levels at an aggregate level ( Table 5.1 ). However, the behavior was different between the different figures. In the Hydrocarbon Tax, revenue increased by 4.3%, but has not yet reached the levels of 2019, given that, although consumption continues to recover, it has been weighed down by the sharp increase in prices. In the case of the Tax on Tobacco Products, in 2022 the decreasing trend in revenue was broken, registering an increase of 9.3%. This change is explained by two factors. On the one hand, consumption increased, both of cigarettes (7.2%), which exceeded the pre-pandemic level, and of other tasks (2.9%), which consolidated their growing trend. On the other hand, the average price before taxes of both categories increased. The Electricity Tax recorded a sharp drop in revenue (-79%) explained by the successive extensions throughout the year of the rate reduction, in force since mid-September 2021 and for which a revenue impact of 1,705 million in 2022. With this amount, income would have reached the highest level of the entire series, driven by the intense rise in electricity prices, and despite the drop in consumption. Revenue from all taxes on alcohol increased in 2022, driven by greater consumption, all of them exceeding pre-pandemic levels, and the increase in the Tax on Alcohol and Derived Beverages (34.5%) was especially intense.

In 2022 consumption of all products subject to II.EE increased. ( Table 5.1 ), except for electricity. The growth in alcohol consumption (18.1%), cigarettes (7.2%) and beer (6.1%) stands out, all of them exceeding pre-pandemic levels. In the case of fuels, although gasoline and diesel consumption grew (1.5%), the increase was slower due to the sharp increase in prices and still remained below 2019 levels. For its part, electricity consumption fell by 2%, dragged down by the intense rise in prices.

During 2022, the price increase that began the previous year continued, being especially strong in the case of energy products, and reaching, for all products subject to II.EE, the highest levels in the entire historical series. Thus, the average price of gasoline and diesel grew by 44.7% (67.8% before taxes; Table 9.1 ) driven by the price of a barrel of oil in euros, which increased by 63.7%. In electricity, the increase before taxes was 52.9%, although the public sale price was lower (39.2%) thanks to the rate reduction that was maintained throughout the year ( Table 5.7 ). For their part, the average prices of alcoholic beverages increased by 2.7% (4.1% before taxes, Table 5.2 ) and those of beer by 6.4% (6.8% before taxes, Table 5.3 ). In the case of tobacco products, the average retail price increased by 2.8% (4.6% before taxes, Table 9.2 ), with average prices increasing both for the packs (1.3% the average retail price) and for the rest of the tasks (7.9% the average retail price). Consequently, the value of the products subject to II.EE. (before VAT) increased by 39.5%, a consequence of higher consumption (except electricity) and the intense rise in prices ( Tables 1.3 and 5.1 ).

Regarding effective rates, the only regulatory change in 2022 was the drastic reduction in the rate in the Electricity Tax that has been successively extended since September 2021 (from 5.11% to 0.5%). The estimated impact of this reduction in 2022 reaches 1,705 million euros ( Table 1.5 ). But, as can be seen in Table 5.1 , there have been other variations in rates. The increase in the effective rate of gasoline and diesel fuel in the last two years stands out, due to changes in the composition of consumption of the different products, specifically, due to greater use of products taxed at higher rates.

Special Taxes accrued grew by 1.5% in 2022 to 20,334 million euros, still below the aggregate level (-5.7%) of 2019 levels ( Table 5.1 ). All of them, with the exception of taxes on Intermediate Products and on Electricity, have increased in line with the recovery of consumption, and so would the Electricity Tax had the rate reduction not been extended throughout 2022. . In fact, of the 1,226 million lower amount accrued compared to 2019, 1,133 are concentrated in the Electricity Tax. The Hydrocarbon Tax was also below the levels of 2019 (359 million less), given that the intense rise in prices contained the increase in consumption.

The Hydrocarbon Tax accrued increased by 3.1%, reaching 12,007 million euros ( Table 5.5 ), but still below the level of 2019 (-2.9%), except in the case of gasoline for which it has been 7.7% higher. Although consumption continues to recover, it has been slowed down by the sharp rise in prices which, as mentioned above, have reached historical highs. The increase in accrued revenue was double that of consumption (1.5%), due to the increase in the effective rate derived from greater use of products taxed at higher rates. In fact, gasoline and diesel consumption increased by 10% (already exceeding the level of consumption before the pandemic), and 1.3% respectively, compared to the fall in consumption of subsidized diesel, of 6.4%. .

The Tax on Tobacco Products accrued registered a growth of 8.2% to 6,692 million euros ( Table 5.6 ), already exceeding the 2019 figure. The increase was greater in cigarettes (8.3%), changing the decreasing trend that began in 2019, than in the rest of the products (7.7%). This increase in the tax accrued is explained by an increase in both consumption (6% for the total, 7.2% for packs and 2.9% for the rest of the products) and the average price before taxes (4.6% for the total, 2.7% for packs and 11.7% for other products).

The Electricity Tax was reduced by 76.4% ( Table 5.7 ), as a result of the drastic reduction in the rate (from 5.11% to 0.5%) that came into force in mid-September 2021 and which was successively extended throughout 2022. Electricity consumption registered a decrease (-2%), dragged down by the strong growth in prices (52.9% before taxes).

The Tax on Alcohol and Derived Beverages increased by 17.8% in 2022 ( Table 5.2 ), in line with the progress in consumption, not only exceeding 2019 levels, but recording the highest collection earned since 2007. Something similar occurs in the Beer Tax, which increased by 6.3% ( Table 5.3 ), reaching a historical maximum in collection.

The Coal Tax broke its trend of previous years and increased by 65.8%, up to 52 million, although it maintains a residual role within the system, once its use in the generation of electricity was abandoned by of the largest producers.

Collection from Special Taxes reached 20,224 million, registering a growth of 2.5% compared to 2021 figures, but still standing 1,156 million (5.4%) below the collection of 2019 ( Table 5.1 ). Its growth has been one point higher than the tax accrued, with two reasons justifying it. On the one hand, the collection mechanics, which have affected the last two years in different ways. The 2021 cash collected the latest accruals from the 2020 financial year, most affected by the crisis, while the 2022 cash has been favored compared to the annual accrual. On the other hand, the higher revenues collected in 2022 linked to the requested postponements, highlighting the cases of Taxes on Hydrocarbons and on Alcohol and Derived Beverages. In fact, in this last case the difference between cash and accrual was especially relevant, with the former growing by 34.5%, almost double that of accrual, 17.8%.