spain tax collection

The Treasury Wants More Revenue In 2023, Despite The Slowdown

Despite the economic slowdown, the Spanish Treasury wants to achieve another record collection in 2023. This follows the one that will certainly be achieved in the current year, in which the collection is 27 billion euros more than expected due to inflation. The Treasury wants to achieve this after leaving a large part of middle-income earners (above 21,000 euros a year) out of its tax cut, which does not include…


Treasury: Inflation Increases Tax Revenues By 23%

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 –…

Is it the Fed that has changed... or the world around it?

Treasuries Yields Plunged, Hiting Historic Lows. VIX Soared To 32

BBVA Research | Covi-19 jolts equities and sovereign yields again as mounting coronavirus cases outside China dashed hopes that the outbreak had been contained. U.S. Treasury 10Yyield hit historic lows, dropping below 1.30%. Elsewhere, the WHO stated that the covid-19 has the potential to become a pandemic, while the U.S. warned not to travel to Spain to avoid potential dangers.

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Spanish Treasury bills trading at negative rates for the first time in history

MADRID | The Corner | Although the eurozone economy in August has become the main focus of investors’ concern, peripheral debt continues to attract them. Yesterday, for the first time in history, the Spanish Treasury 3-months bills traded at negative rates on the secondary market. To date, the Treasury has covered 70% of the expected gross issuance in 2014 of 242,370 million euros, which means a decrease in the average cost of outstanding debt of 14 basis points since December 2013 to stand at 3.59% . However, the Treasury decided yesterday to cancel the auction of bonds and notes scheduled owing to the absence of investors because of the summer season.

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Spanish Treasury takes advantage of investors’ optimism

MADRID | By Francisco López | Markets have positively changed their perception on the Spanish economy, as we saw in Tuesday’s Ibex bullish rally. The index surpassed the 9,800 points barrier. Also, the latest Treasury auctions have been successful and the risk premium is stable.

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Spanish Bonds Benefit from Fed’s Steroids

MADRID | The Corner Team | Spain’s borrowing costs dropped at a double bond auction on Thursday after the U.S. Fed announced it will not start tapering yet. The 3-year bonds were sold at an average yield of 2.225%, compared with 2.636% seen at the previous auction. Madrid expects that this will leave some margin to offset possible negative deviations elsewhere or to better fulfill the country’s deficit target (6.5% for 2013).