Spain led the rise in fiscal pressure in the OECD in 2020

Spain was the country of the Organization for Cooperation and Economic Development (OECD) where fiscal pressure registered a greater increase during 2020 as a c

Spain led the rise in fiscal pressure in the OECD in 2020

Spain was the country of the Organization for Cooperation and Economic Development (OECD) where fiscal pressure registered a greater increase during 2020 as a consequence mainly of the collapse of GDP recorded because of the Covid pandemic, as reported by the institution.

According to the data of the annual report on tax revenues published on Monday by the 'Think Tank' of the advanced economies, the relationship between the weight of taxes and contributions to social security with the size of the economy increased in the case of Spain in Spain 1.9 percentage points, the highest rise among the 38 member countries of the OECD, although there was only disposable data of 36 economies.

Behind Spain, the greatest increase in fiscal pressure between the OECD countries in 2020 corresponded to Mexico, with an annual increase of 1.6 percentage points, while the biggest fall was recorded in Ireland, with a decrease of 1 , 7 percentage points, followed by Chile (-1,6) and Norway (1,3).

A total of 20 of the 36 OECD countries whose data were available registered an increase in fiscal pressure, while in 16 countries a decrease was observed, including 13 members where the decrease was lower than the percentage point.

In the case of Spain, the OECD explains this evolution on the rise in fiscal pressure because the country "experienced the greatest fall of nominal GDP and a lower fall in nominal tax revenues."

In this way, in 2020 the fiscal pressure of Spain stood at 36.6%, compared to 34.7% in 2019, thus surpassing the average of 33.5% in the OECD, where the weight of taxes increased One tenthness of the preceding year.

In this way, since 2000, fiscal pressure in Spain has increased by 3.6 percentage points, which represents six times more than the increase of 0.6% observed on average between the OECD economies.

Despite overcoming the OECD average, Spain stood at the fourteenth position among the 36 countries of the Organization whose data were available, when in 2019 occupied the twentieth position.

On the other hand, taking as a reference the 2019 financial year, the OECD estimates that the highest weight in the country's tax revenues corresponded to social security contributions, with 35.3%, compared to the average of 25.9% of The OECD, while taxes on the income of natural persons supposed 22.7%, compared to 23.5% on average in the organization.

In the case of corporate tax, the weight of this tribute in the Fiscal Collection of Spain was 6%, compared to 9.6% OECD, while the contribution of property taxes in Spain represented the 7.1% of revenues, compared to 5.5% of the Average in the OECD.

On the other hand, the contribution of VAT stood at 18.7% in Spain, below 20.3% of the international organization and the weight of other consumption taxes was 10.2%, compared to 12 , 3% of the OECD average.

Date Of Update: 07 December 2021, 10:46

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