Tax revenue falls 2.822,7 million euros 'dragged' by the drop in VAT and IRC

“In the month of September, the accumulated net tax revenue of the State sub-sector again reflects the effects of the pandemic covid-19, registering a decrease of 2.822,7 million euros (-8,3%) compared to the first nine months of 2019 ”, Says the Directorate-General for Budget (DGO).

The tax revenue of the State sub-sector registered a reduction of 2.822,7 million euros until September, decreasing 8,3% compared to the same period of 2019, reflecting the effects of the pandemic, according to the Budget Execution Summary released today.

“In the month of September, the accumulated net tax revenue of the State sub-sector again reflects the effects of the pandemic covid-19, registering a decrease of 2.822,7 million euros (-8,3%) compared to the first nine months of 2019 ”, Says the Directorate-General for Budget (DGO).

This drop, DGO indicates, "presents a continuity with the variation registered in the accumulated revenue in August", in which there was a decrease of 7,8% in year-on-year terms.

In total, the amount of taxes collected in the first nine months of this year amounted to 31.344,6 million euros. In the same period of 2019, the total amount of tax revenue was 34.167,4 million euros.

IRC and VAT contributed the most to that fall, with the revenue from these two taxes reflecting the impact of the measures taken by the Government to mitigate the effects of the pandemic on the companies' treasury.

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