Lisbon, July 1, 2026 (Lusa) - The state collected €22.209 billion in taxes up to May, an increase of 2.2% compared with the same period last year, according to the budget implementation summary published today.

On the direct tax side, revenue recorded a 1.3% adjustment compared with the same period in 2025, reflecting a €86.2 million decrease in net corporate income tax (IRC) revenue.

Net revenue from personal income tax (IRS), however, rose by 0.1%, despite an increase in tax refunds of €340.6 million.

Indirect taxes saw a 4.1% increase in revenue, driven by growth in VAT (Value Added Tax) revenue of 4.8%, ISP (Tax on Petroleum Products) revenue of 1.1% and Stamp Duty revenue of 4.6%.

With regard to VAT in particular, the trend in net revenue reflected an increase in tax refunds paid of €215.6 million (6.1%) During the period under review, tax refunds rose by 13.6% compared with the same period last year, driven by higher payments of personal income tax (IRS), VAT and corporation tax (IRC).

Also noteworthy was the rise “in ISP refunds paid, amounting to €43.8 million (+45.4%), and in other direct taxes, amounting to €25.5 million”.

PE/ADB // ADB.

Lusa