3.2.2. Evolution of income for Value Added Tax

The income of the VAT corrected from the SII grew by 3.9 percent in 2018, a smaller increase than that estimated for final expenditure subject to tax. The difference between the growth of taxable expenditure and revenue is due to two elements. On the one hand, the increase in returns that are not from the financial year. Annual refunds for the 2017 fiscal year grew by more than 9 percent, exceeding the number of applications due to the faster pace of execution. In addition, negative adjustments with the chartered territories also grew at a similar rate. On the other hand, revenue from previous periods decreased as a result of the measures related to the granting of deferrals that were implemented in 2017. If instead of net income we analyse gross income from imports and self-assessments of large companies and SMEs, growth in 2018 was 5.2 percent, in line with taxable expenditure.