Inflation leaves 22,200 million euros more in the state coffers until July than in 2021

• Workers assume a loss of purchasing power of 1,360 euros per year due to inflation

The State has collected until July

for the payment of

, a total of

due to the greater contribution that taxpayers have made through the VAT due to

and personal income tax.

According to data published this Monday by the

, tax revenues have grown by

revenues as

a result of the

; the increase in income from personal income tax, mainly due to withholdings from work and linked to job creation and increases in wages and average pensions and in the effective rate; and the lower returns made at the beginning of the year in Corporate Tax" , explained this institution.

, with a contribution of

52,504

to the public coffers between January and July, is the tax whose collection registers the greatest increase, of 17.8%, since as consumer prices rise, the part of the bill that allocated to the payment of the tax is increasing.

A product that cost 100 euros taxed with a VAT rate of 21% contributed 21 euros to the public coffers, but if that product has risen in price by 9% -average inflation registered so far this year- and now it costs 109 euros , the State will take 22.8 euros as VAT, an increase of 1.8 euros only for that purchase.

The increase in VAT collection registered this year is unprecedented and is due both to the good behavior of consumption and, above all, to

that have not been seen in Spain since the

.

In August, the CPI increased by

as announced at the end of the month and will be confirmed on Tuesday by the National Institute of Statistics.

However,

is another tax figure that also contributed to fattening the collection.

In the first seven months of the year, this tax figure has contributed

in year-on-year terms, an increase that is due to the improvement in

, the increase in

and the rise in

.

It also influences that the Executive has refused to deflate the income tax rate, as opposition parties such as Ciudadanos or the PP have requested.

Deflating this tax

would allow all those who have benefited from a salary increase to compensate for inflation not to have to assume a higher effective rate of personal income tax and, therefore, contribute more to the Treasury, thus losing that gain in purchasing power that they had obtained to compensate for the rise in prices.

The Government, however, has not wanted to apply this policy.

Corporate

has contributed 6,227 million euros so far this year, 13.3% more, due to the improvement in business income and also the impact of inflation on final prices;

while

have contributed 11,750 million, 5.3% more.

Decrease in the public deficit

The increase in tax revenue has allowed the State to

of the year compared to 2021, as reported this Monday by the Ministry of Finance, which has left the budget gap at the end of June in

.

"In the first half of 2022, the joint deficit of the Central Administration, the Social Security Funds and the Autonomous Communities, excluding financial aid, stands at

equivalent to 2.24% of GDP. If it is included balance of aid to financial institutions, amounting to 395 million, the deficit stands at 2.27% of GDP", explained the Ministry of

deficit

in June in terms of GDP is equivalent to

, which represents 24,056 million, 39.9% lower than that registered in June 2021;

the communities register a deficit in June 2022 of 8,168 million, which is equivalent to

compared to 0.64% reached in June 2021;

while the

System registers a deficit of 1,138 million, which represents a decrease of 82.2% compared to the deficit registered in the first half of 2022, down to

Conforms to The Trust Project criteria

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