State tax revenue reached 51,657 million euros by October, an improvement of 5.1% compared to the same period in 2024, revealed this Friday, November 28, the Budgetary Entity.
“In October 2025, the accumulated tax revenue of the State subsector totaled 51,657 million euros”indicated the budget execution summary. Compared to the same period last year, there was an improvement of 5.1%.
On the direct taxes side, there was an increase of 233.3 million euros (1%) due to the evolution of net income from IRS – Personal Income Tax (4%).
The reduction in reimbursements contributed to the increase in this revenue, amounting to 739.4 million euros, 22% less.
Net IRS revenue also saw a slowdown in its growth, falling from 7.1% in September to 4% in October.
In the opposite direction, net income from IRC – Corporate Income Tax decreased by 307.3 million euros (-3.9%), due to the reduction in self-assessment payments.
In indirect taxes, there was an increase of 2,260.2 million euros (8.5%), compared to the same period last year, justified by the net revenue from VAT – Value Added Tax, which rose 9%.
Also noteworthy is the growth in net revenue from ISP – Tax on Petroleum Products (10.8%) and Tax on Tobacco (9.6%).
Without the effect of the extension of VAT payment, revenue from this tax increases by 9.1%.
Therefore, excluding this effect and the payment of deferred IRC taxes in February 2024, tax revenue had a gain of 4.9%.
Late payments rise to 870.5 million euros by October
Late payments from public entities stood at 870.5 million euros up to October, an increase of 145.4 million euros compared to the same period of the previous year.
“At the end of October, late payments from public entities amounted to 870.5 million euros, which represents an increase of 145.4 million euros compared to the same period of the previous year”, reads the document released by the Budgetary Authority.
Compared to the previous month, there was a drop of 141.7 million euros.
The increase in the health sector (175 million euros) and in reclassified public entities (16.3 million euros) weighed on the year-on-year evolution.
However, this increase was mitigated by the decrease in Regional Administration (-31.2 million euros) and Local Administration (-17.5 million euros).
The monthly variation is justified by the decrease in entities in the health sector (-133.1 million euros), “to which contributed capital contributions to EPE Health Units in the global amount of 500 million euros”.
Half of the EPEs regularized late payments in October.
Social Security surplus increases to 5,462.9 million euros by October
The Social Security surplus increased to 5,462.9 million euros in the first 10 months of the year, compared to the same period last year, according to the budget execution summary.
The document shows that the value is higher than the 4,368.4 million euros reported in 2024.
Effective expenditure stood at 31,597.6 million euros, up from 29,458.5 million euros last year.