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2014 Report

3.2.4. Evolution of income for Value Added Tax

The collection for VAT increased by 8.2% in 2014. This increase was especially intense in the VAT for imports and in the gross VAT of SMEs. The increase in gross incomes was rather higher than the growth of the final individual expenditure subject to the tax, which, after six years of decreases, returned to positive rates in the fourth quarter of 2013 and showed considerable dynamism (with an average rate of 6 per cent) in the first part of the year.

Subsequently the rhythm gradually fell, partly for reasons of comparison (the first quarter of the year was compared with a quarter with very low expenditure and the last one is compared with a quarter in recovery), and partly because between April and May a peak of activity occurred, linked above all to the tourism sector.

The principal impulse for expenditure was consumption by families, promoted by the recovery of incomes, but there was also an increase in expenditure on homes, putting an end to seven consecutive years of falls.