Business margins continue to increase in 2024 and reach maximum levels after 15 years, according to the Tax Agency. Specifically, In the last year, they have increased 0.26 points compared to the previous year (7.84%) until reaching 8.10%. This is the second highest figure since 2010, when a margin of 8.11% was recorded.
For its part, the data on business margins according to the unit sales margin over VAT also show this upward trend, rising from 12.91% in 2023 to 13.34% in 2024also reaching maximums.
The Tax Agency also collects data only from the third quarter of 2024, but only in terms of the VAT unit sales margin, which stood at 14.12%above the 13.49% of the second quarter, and reaching historical highs.
For the Workers’ Commissions union, business margins at maximums “justify accelerating salary increases and being more fiscally ambitious.”
The Ministry of Economy, Commerce and Business, the Bank of Spain and the State Tax Administration Agency publish the ‘Observatory of business margins’ with the aim of providing information for the monitoring and analysis of this variable. Within the scope of the Tax Agency, a joint exploitation of VAT declarations, withholdings for work income and Corporate Tax is offered.
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