June 22th, 2024 | 5:52

Bizkaia

Bizkaia experiences a significant increase in tax collection in 2023

Maria Jose Gonzalez

April 15, 2023 | 1:00 p.m.

Arranged taxes grow by 11,8% in the first quarter of the year

The Bizkaia Treasury has registered a notable increase in tax collection during the first three months of 2023. The figure reached is 2.526,1 million euros, which represents 27,2% of the total budgeted for the entire year ( 9.295,9 million euros). Compared to the same period in 2022, this increase represents 11,8%, with 266,9 million euros more deposited.

Increase in direct taxation

The main driver of this growth has been the direct taxation, which has experienced an increase of 21,3% compared to the previous year. Within the taxes that make up direct taxation, personal income tax has grown by 17,2%, while the Non-Resident Income Tax has increased its collection by 50,5 million euros. On the other hand, Corporate Tax has registered a decrease in collection of 6,7 million euros.

Growth in indirect taxation

La indirect taxation It has also experienced growth, although to a lesser extent than direct taxation, with an increase of 2,8% (33,6 million euros more) compared to 2022. This increase is mainly due to VAT, which has contributed 15 million additional euros, and the Special Tax on Hydrocarbons, with an increase of 21,7 million euros.

Implications of the increase in tax collection

The increase in tax collection in Bizkaia during the first quarter of 2023 is a positive sign for the local economy, since it indicates greater economic activity and an increase in tax revenue. This, in turn, can translate into a increased ability to finance public services and make investments in infrastructures and projects that benefit the community.

However, it is important to take into account that this increase in collection may also be influenced by external factors, such as changes in fiscal policy or in the economic situation at the national and international level. Therefore, it is essential to analyze trends over time and not just focus on data from the first quarter of 2023.

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