Canary Islands Sees Increase in Tax Revenue in First Half of 2024
In the first half of 2024, the Canary Islands generated €1.361 billion from the General Indirect Canarian Tax (IGIC), representing a 4.5% increase compared to the same period last year. The data, released by the Canary Islands Statistical Institute (ISTAC), indicates that total tax revenue reached €1.521 billion, marking a 4% rise after accounting for tax refunds.
When including other taxes, there was €150 million collected from the Import and Merchandise Delivery Tax (AIEM), a slight increase of 0.6% over the previous year. However, revenue from the Special Tax on Certain Means of Transport dropped by 9.8%, amounting to €10 million.
Additionally, €293.8 million was raised from other taxes ceded by the state, particularly €235.9 million from the Tax on Property Transfers and Documented Legal Acts.
