Tax collection

The country only collects 14% of GDP for tax purposes. Not only does this represent the lowest level of all the countries that are part of the Organization for Economic Cooperation and Development (OECD), but it is also lower than the collection levels of most Latin American countries.

Recently, the possibility of introducing a tax on financial transactions (FTT) as a way to cover part of the pension deficit has come up again in the Spanish public debate. These types of fees are applied to some types of monetary transactions, such as purchases of securities or stock market flotations.