Consumption, the high cost of living and inflation contributed significantly to boosting tax revenue last year, with businesses recording an increase in their sales, which exceeded 15.5 billion euros.
According to Independent Authority for Public Revenue (AADE) data, the property management sector and retail trade recorded the highest sales in absolute terms (taxable outflows) in 2024, while the food service sector came very close. Accommodation rentals and construction followed.
According to the VAT certification data included in the AADE business plan, 65 business sectors out of a total of 87 recorded an increase in taxable outflows in 2024 and 22 sectors recorded a decline – among them the energy sector, which recorded a €6.01 billion decrease in taxable outflows compared to 2023, a year which had also recorded a large decrease of €17 billion.
The total rise in sales amounted to 4.1% between the years 2023-2024. Based on AADE data, the size of taxable outflows in the year 2024 was the highest over the 2019-2024 period.
In absolute terms, the sector with the largest increase in taxable sales last year was real estate management, which recorded an increase of 176% or €3.67 billion compared to 2023.