Business margins continue to increase in 2024 and reach maximum levels after 15 years, according to the Tax Agency. Specifically, Last year they increased by 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 their part, data on company margins according to the unit margin of sales over VAT also show this upward trend, going 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 VAT unit margin on sales, which amounts to 14.12%above the 13.49% of the second quarter, and reaching all-time highs.
For the Workers’ Commissions union, company margins to the maximum “justify accelerating wage increases and being more ambitious on a budgetary level.”
The Ministry of Economy, Trade and Enterprise, the Bank of Spain and the National Tax Administration Agency publish the “Observatory of Business Margins” with the aim of providing information for monitoring and the analysis of this variable. Within the framework of the Tax Administration, joint exploitation of VAT declarations, withholdings on earned income and corporate tax is proposed.
