Official data shows that revenue from this consumption tax reached 710 million euros between January and March. This figure represents a 2.4% increase compared to the same period last year, consolidating a trend of sustained growth in the Archipelago's public coffers.
Despite these results, the pace of growth has slowed compared to previous years. While the first months of 2025 saw a 9% increase, the current rise reflects a moderation consistent with economic forecasts for 2026, which anticipate GDP growth lower than that recorded in 2025.
The performance of the IGIC remains above the CPI, which stood at 1.2% during the first quarter. This factor indicates that the increase in tax collection is not solely due to rising product prices, but that consumption in the Islands continues to show momentum.
The increase in tax revenue is attributed to the combination of high tourist influx and local consumption. Factors such as rising wages and spending derived from tourism activity have boosted tax collection, although authorities remain cautious regarding the potential evolution of economic indicators in the coming months.
