Spain’s Rise in Multinational Audits Led to Small Revenue Spike

Spain’s tax authority only generated a 0.2% increase in tax revenue last year despite a rise in audits of large companies.

Agencia Tributaria carried out nearly 35,000 audits against multinationals and corporations with revenue over 6 million euros ($6.7 million) in 2023, a 17% increase on the previous year, according to a press release from the authority Thursday.

Total revenue collected from compliance work for 2023 was 16.708 billion euros, an increase of 0.2% increase on the previous year. In 2022, compliance work increased revenue by 2.7% compared to 2021.