The provincial treasuries of Álava, Bizkaia and Gipuzkoa have had to refund the withholdings to the mutual funds following a Supreme Court ruling, but in addition, VAT collection has fallen by around 8%.
The tax collection joint of the estates of Álava, Bizkaia and Gipuzkoa has grown by only 1%as they have been greatly affected by the proceeds to common members. Until July, the sum of the three collections 10,189.5 million euros.
The Supreme Court recognised the right of the mutualists to recover the deductions they had made from their pensions, as they had not taken into account the contributions they had paid up to 1979. The repayments made therefore resulted in a reduction of 1.6% in the collection in Gipuzkoa and stagnation in Álava.
Last month, when the collection was 4.2% higher than the previous year, the municipalities already called for “caution”, as the figures for the following months would be affected by these returns.
In addition, VAT collection has been lower than that of the same period last year. It has fallen by 8.6% in Bizkaia and by 7.3% in both Álava and Gipuzkoa.
In absolute terms, collections increased by 108.7 million euros up to and including July.
Increase in Bizkaia
Unlike Álava and Gipuzkoa, collection in Bizkaia has increased. The Bizkaia treasury has reached 6,207.6 million euros, 2.5% more than last year.
According to the Provincial Council of Bizkaia, the positive evolution of deductions from work and movable capital has cancelled out the returns.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
