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Report 2020

3.2.2. Evolution of income for Value Added Tax

VAT collection in 2020 fell 11.5 percent. The difference with the evolution of gross income (-9.4 percent), which is more representative than the net income of what happened in the year with subject spending, is explained because the refunds made did not reduce at the same rate (- 4.1 percent) by including returns generated in 2019 (annual and monthly returns from the last periods of that year) not affected by what happened in 2020.