Spanish tax revenue monthly report March 2014

 The multilingual Spanish accountants and lawyers in Marbella of law firm Arcos & Lamers Asociados has the pleasure to inform you about Spanish Tax Revenue´s as per information obtained at Spanish national tax authorities the first quarter total tax revenue amounted to €38.9 billion and increased by 7.0% compared with the same period of 2013 (€2.6 billion more).

Gross revenue grew by 5.1% in the first three months of the year (€2.5 billion) and, at the same time, refunds fell by 1% (€0.1 billion), both measured after amending changes in public debt interest’s distortion.

Homogeneous total revenue, after leaving out public debt interests accounting and different refunds schedules effects, rose by 4.7% in this part of the year.

March revenue grew by 5.7%, as a result of a 15.8% refunds drop and a 0.2% gross receipts increment. March receipts performance stems mainly from three issues:

(1) Payroll withholding tax rise, driven by employment swelling in large corporations (in February it was scored the first positive growth since half 2011), the recovery of public withholding tax debt from prior years and the boost from changes in deferments management.

(2) The backward performance of VAT and Excise taxes, reflecting prices drop off (linked to energy the most of

them: oil and electricity).

(3) Refunds deep drop because of the less amount of 2013 VAT refunds requested by taxpayers.

Contact one of the professionals, lawyers, tax advisers and accountants of this Multilingual Spanish Law firm in Marbella

María Teresa Arcos, lawyer in Spain

Wim Lamers, economist in Spain