And the good performance of revenues has led the government as a whole to reduce its deficit up to July to 29,643 million euros, 45.4% less than in the same period of 2021 and equivalent to 2.27% of GDP.
Total revenue from taxes and contributions is close to 120 billion, which added to the rest of non-financial resources – property income, sale of goods and services and other non-financial resources – brings the revenue of the public coffers to 148.415 billion euros.
The Treasury collected almost 22,000 million more than last year, equivalent to 1.66% of GDP. Revenue from VAT alone has risen by 8,678 million, almost 20% more, and reached a total of 52,740 million, despite the reduction of VAT on electricity from 21% to 10% and 5% since 1 July.
Revenue from the tax on hydrocarbons has risen by 11.1% to 7.169 billion, boosted by record fuel prices this year. And that from Personal Income Tax (IRPF) has increased by 44.9% to 33,802 million; the revenue from Corporate Income Tax has grown by 11.3% to 11,016 million, and that from Non-Resident Income Tax has increased by 67.5% to 1,652 million.
