Basque farms collect almost 16,000 million euros in 2021, a record

In 2021, the estates of Álava, Bizkaia and Gipuzkoa collected €15,963.2 million, 14.4% more than in 2020, and even 3.2% more (493.6 million more) than in 2019, the year before the pandemic. This is, in effect, the highest amount recorded in the last five years, which exceeds the record set in 2017.

The collection data has been released by the Minister of Economy and Finance of the Basque Government, Pedro Azpiazú, at a press conference after the meeting of the Basque Finance Council. Azpiazu highlighted that, “after the significant drop registered in 2020 (-9.8%) as a result of the economic crisis caused by the covid-19 pandemic, tax revenues in the Basque Country in 2021 have shown an important advance“.

According to the minister, the progress is explained “not only by the partial recovery of the Basque economy and for the price escalation in recent months, but also due to the computation of extraordinary income coming, to a large extent, from the income from single acts of 2019 corresponding mainly to VAT, basically in Bizkaia; to the agreement with the State of the MOSS/OSS VAT regime and the entry of deferred income from 2020 due to regulatory measures adopted during the pandemic, to cushion its effects and provide companies with greater liquidity”.

This record collection, underlined Azpiazu, allows the Basque Government to be able to “continue reinforcing the bet unequivocal by the transformation and economic revival from Euskadi. This year and in 2023 we have an opportunity to stimulate public investment before we return to budgetary stability regulations, which force us to respect deficit and debt limits established by Europe.”

“I hope that on this occasion, the European institutions will have enough height of sight to do not establish restrictions on public investment stop the economic recovery, so necessary to recover from this pandemic,” he added.

Almost 724 million to the Quota

Regarding the Quota paid to the Spanish State, the amount paid amounts to 723.9 million euros. This amount includes the settlement for the 2020 financial year (net balance of 277.3 million, favorable to the CAV) and the provisional quota for 2021 amounting to 1,001.2 million euros.

Once the closure of the tax collection and payments to the State is known, the liquidation of the 2021 contributions, which amounts to 10,829.8 million, 1,210 million more than initially budgeted.

In view of the closure of collection for the year 2021, the General Adjustment Fund will be endowed with 80.7 million, and it will be allocated in its entirety to Álava.