Tax agency Aeat has published the 9th edition of the taxpayers list where large debts to the State Treasury of Spain are shown. This list was first published in 2015 under the charge of the former Minister Cristobal Montoro. Since last year’s December the list, which is updated every 6 months, covers all the non-payers whose debt exceeds €600,000.
The list, which in this case contains data as of December 31, showed that the total debt of 7,037 Spanish companies and individuals makes €17,772,400,000. Although the numbers are huge (for example, the budget from which Junta of Galicia finances health, education, and social policy this year is €11,627,000,000), one can already see some improvements compared to the previous list.
The total number of debtors decreased by 3.3%, and the amount of debt is 2.5% less than in the previous list. However, it should be noted that some amounts appear twice, since this list includes both the major debtors and the third parties that Aeat considers to be liable. Excluding the latter, the amount owed is €14,567,000,000.
Representatives of Aeat clarified that of the total number of taxpayers indicated, 5,650 are companies, and the remaining 1,387 are individuals, i.e. self-employed and individual persons. It is the companies who accumulate the most non-performing liabilities: 88 out of every 100 euros.
Treasury of Spain also notes that €6.787,000,000 are owed by 2,067 debtors who are insolvent. Several defaulters, warned in advance by Aeat, paid out €81.800,000 to avoid being included in the list.
The imprint of the real estate crisis remains indelible. Data analysis shows that at least 294 companies based in or associated with Galicia owed about €590,000,000 at the end of last year.
The list includes Mavieira, a subsidiary of the bankrupt compostel group Mahía. During the boom years, it was the 2nd most important real estate developer in Galicia after Martinsa-Fadesa. The company, which Manuel Jove sold in 2006 (just before the bubble burst) to Fernando Martin for €4,000,000, is also included in the debt list.