Effective rates

It is estimated that the average effective rate on income and spending grew by 2.9% in 2025, reaching 16.2%, after having grown by 3.9% in 2024 (Graph 1.20 and Table 1.3). This is a provisional estimate, pending the release of the annual tax returns. PIT and Corporate Income Tax, information that will be available, for the most part, between June and July 2026. The rise in interest rates stems mainly from the recovery of interest rates in the [unclear - possibly "the US dollar" or "the US dollar"] that began in 2024. VAT of electricity, gas and food and in the Special Tax on Electricity, to which must be added the increase in rates in 2025 in tobacco products. These increases resulting from regulatory changes are compounded by the rise in rates associated with employment income, as a consequence of higher average incomes. The average annual increase since 2019, before the crisis caused by Covid and the subsequent modifications of the rate, lowers first to deal with the inflationary escalation, and the subsequent return to the previous rates from 2024 onwards, stands at 1.2%, which means an increase of 1.1 points in the average rate (Graph 1.21).