“With the level of income reached in the month of May, a year-on-year expansion in real terms is estimated for the twenty-first consecutive month”says the report.
As to Social Security resources, which rose 75.8% in one year“high rates of increase, deepening the expansive trend observed in recent months. Both salary improvements and the growth of registered employment persist as the factors that explain this expansion,” says the Treasury.
The increase in these resources responds to the growth of Employer Contributions that rose by 75.6% and the increase in Personal Contributions, with a growth of 73.9% year-on-year.
The taxes with the greatest response to economic activity, which had a rise of 70.1%, “also contributed to explain the growth of national collection”, highlights the summary. Within this group are VAT, with 69%, the Tax on Credits and Debits with 58.6%, Internal Shares with 82.5% and the tax on Liquid Fuels, with 51.8 %.
Foreign trade taxes showed a growth of 49.2% year-on-year. “The main concept that explains the growth is Import Duties and the statistical rate, which together registered an increase of 71.3%, in line with the growth of economic activity. In turn, Export Duties grew 42, 8% in 12 months”, concludes the Treasury.
Source: Ambito
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