5. Special Taxes

Excise tax revenues increased by % to total of EUR 20.757 billion. The growth was due to the Tax on Non-Reusable Plastic Packaging, new in 2023. Eliminating the revenue from this tax (591 million), the total collection from Excise Taxes in 2023 would be slightly lower than in 2022 (-58 million) ( Table 5.1 ). By figures, revenue from the Hydrocarbon Tax increased by 0.6%, as a result of the higher consumption of gasoline, which offset the poor performance of other products. In the case of the Tobacco Tax, revenues increased by 0.5% due to the significant increase in prices, both for cigarettes and other products, which made it possible to offset the drop in consumption in both categories. The Electricity Tax recorded a sharp decline in revenue (-18%) explained by the decrease in prices and consumption, although its weight remained marginal in 2023 due to the extension for the entire year of the 0.5% rate, in force since mid-September 2021. In the case of alcohol taxes, revenues from the Tax on Alcohol and Derived Beverages (-9.8%) and the Tax on Intermediate Products (-11.3%) decreased, while revenues from the Tax on Beer remained stable.

The value of consumption subject to Excise decreased by %, following the strong increase recorded a year earlier (41.7%). The fall in the value of consumption in the components that have the greatest weight in the aggregate (petrol, diesel and electricity) explains this result, which, in turn, is derived from the sharp reduction in their prices from the high levels reached in 2022. Added to this factor is the general decline in subject consumption.

Indeed, in 2023, consumption of all products subject to Special Taxes decreased ( Table 5.1 ), with the exception of gasoline. The most notable declines were in the consumption of pure alcohol (-5.1%) and cigarettes (-4.1%), both in a context of rising prices. Electricity and fuel consumption also fell by 3.3% and 1.2% respectively. Beer consumption, on the other hand, remained stable.

As regards prices, in the energy sector, the average price of petrol and diesel fell by 12.5% (17.1% before taxes; Table 9.1 ), in parallel with the evolution of the price of a barrel of oil in euros, which decreased by 21.4%. In electricity, the drop in the retail price was 19.7% (-18.4% before taxes, Table 5.7 ). It should be remembered, however, that in both cases, the starting point was historical highs and that, despite these declines, prices remained at levels much higher than those before 2022.

In other prices, those of alcoholic beverages increased by 4.8% (7% before taxes, Table 5.2 ) and those of beer by 12.3% (13% before taxes, Table 5.3 ). In tobacco products, the average retail price increased by 6% (10.6% before taxes, Table 9.2 ), with increases in the average prices of both packs (5.9% average retail price and 12.1% before taxes) and other products (8.8% average retail price and 13.2% before taxes).

As for the effective rates ( Table 5.1 ), in 2023 there was no change in the legal rates (the reduction in the rate on the Electricity Tax, from 5.11% to 0.5%, was already in force in 2022), so the only changes observed were those derived from variations in prices (when the tax is based on value) or in the composition of consumption (if the basis of the tax is physical consumption). The first group includes both the effective rate for a pack of cigarettes (up 4.6%) and the rate for electricity (-17.4%). The second highlights the increase in the effective rate of gasoline and diesel fuels as a result of the growth of gasoline, taxed at a higher rate, and the fall in diesel fuels.

The Excise Taxes accrued grew by 3% ( Table 5.1 ). This increase is explained by the entry into force in 2023 of the Special Tax on Non-Reusable Plastic Packaging. Without taking this revenue into account, there would have been a 0.3% drop in taxes accrued. Taxes on Hydrocarbons, Tobacco Products and Beer remained at practically identical levels to those of 2022; The rest experienced significant declines, especially the Electricity Tax.

The Tax on Hydrocarbons barely increased by 0.1% ( Table 5.5 ), with large differences by product. The tax on gasoline increased by 5.9%. Other products recorded a drop, which in some cases was very significant, such as reduced rate diesel (-10%) and natural gas not used as fuel (-11.9%). The slight increase in the accrued revenue occurred despite the fall in overall consumption (-1.2%) thanks to the rise in the effective rate resulting from greater use of products taxed at higher rates.

The accrued Tobacco Tax increased by 0.7% ( Table 5.6 ). The increase was greater in other occupations (4.1%) than in cigarettes (0.3%). This increase in the tax accrued occurred despite the fall in consumption (-3.2% for the total, -4.1% for packs and -0.8% for other products) and was therefore driven by the increase in the average price before taxes (10.6% for the total, 12.1% for packs and 13.2% for other products).

The Tax accrued on Electricity was reduced by 20.1% ( Table 5.7 ) due to the downward trend in electricity consumption (-3.3%) and, above all, due to the considerable reduction in prices (-18.4% before taxes), in a context in which the reduction in the rate was extended throughout the year 2023.

The Tax on Alcohol and Derived Beverages fell by 5.1% in 2023 ( Table 5.2 ), in line with the drop in consumption, which could have been affected by the increase in the price before taxes (7%). For its part, the Beer Tax remained at levels almost the same as those of 2022 ( Table 5.3 ).

The Coal Tax resumed its downward trend, with a fall of 36.6% to 33 million, maintaining a residual role within the system.

The Special Tax on Non-Reusable Plastic Packaging, which came into force in 2023, brought in 663 million.

Special Tax collection reached 20,757 million, 2.6% higher than the figures for 2022. Its growth was lower than that of the accrued tax, among other things, because the 2023 fund only included 11 months of the accrual of the Special Tax on Non-Reusable Plastic Packaging, the first declarations of which were filed in February. Without this tax, revenue would have fallen by 0.3%.