Intermoney | The Spanish government’s collection capacity, given that the basic economic scenario is likely to be worse than it has projected, must be questioned. In fact, even taking into account the tax hikes included in the 2021 budget bill, we estimate tax revenues will be around 211 billion euros in 2021. So almost 11 billion euros below budget and this would be equivalent to just under 1% of next year’s GDP. This figure does not include the capacity to fight tax fraud, which is expected to generate 828 million euros.
spain tax collection
At its cabinet meeting on Tuesday, the government gave the green light to the implementation of new taxes on digital business and stock market transactions, following similar steps by other European countries. The agreement reached between Spain’s PSOE and Podemos coalition government included the approval of the two taxes, with which the Administration expects to collect about 2.050 billion euros (€1.200 Bn with the digital tax and €850 M with the financial transactions tax).