Gross tax bases

The aggregate tax base of the main taxes grew by % in 2024, exceeding by six the rate reached in 2023 ( Table ). Growth is framed in an economic context characterized, as we have seen, by two features. On the one hand, the positive evolution of activity throughout the year, as shown by both the fiscal indicators (daily sales, monthly sales of Large Companies at constant population and quarterly sales of Large Companies and ), as well as the upward trend of in . On the other hand, the continuation of the price moderation that began in 2023, following the severe tensions experienced a year earlier.

Following the revision of domestic demand, the nominal macroeconomic indicator most closely related to the evolution of the aggregate tax base, the profile of both series has become closer, as can be seen in Chart 1.15. Even so, the gap between the growth of the bases and that of the indicator remains, as shown in Chart 1.16, which shows the behavior of both aggregates over the last twenty-five years, taking the year 2000 as the base year.

Virtually the entire increase in the aggregate tax base is due to the rise in gross household income, which grew by 8.5%, more than one percentage point above the figure reached in 2023. The corporate tax base remained highly dynamic, albeit at a slower pace than in previous years (10.8% in 2024, 11.4% in 2023, and 17.7% in 2022). Overall, income bases increased by 8.9%, almost one percentage point more than the previous year. Expenditure bases grew by 4.1%, a similar rate to that achieved a year . Expenditure subject to VAT increased by 5.7%, compared to % in 2023, with more moderate increases in its volume and price components, which recorded similar growth, around 2.8%. The value of consumption subject to II. EE. fell again, albeit less sharply than in 2023 (-6.3% compared to -13.9% previously), due to the smaller fall in the prices of products associated with oil and electricity.

The profile of the aggregate tax base was influenced by the early celebration of Easter in 2024, a fact that negatively affected the first-quarter rate, which stood at 4.8%, before rising to 7% in the second. On average, growth in the first half of the year was 5.9%, lower than the 6.6% seen in the last quarter of 2023. Between July and December, however, growth in the bases reached 7.7%, with improvements in all its components (Chart 1.17).