As of April 11, the 2022 Income Statement campaign will begin. They have about three months to settle accounts with the Treasury.
According to the personal income tax law, it is a personal and direct tax that is levied on the income of individuals according to their family and personal circumstances. Specifically, the Income statement supposes an adjustment between the corresponding taxation and the withholdings already applied throughout the year on the income obtained by the taxpayer.
Thus, the result can be paid to the Treasury or returned to the taxpayer. Knowing this result – a draft can be made before submitting the return – is important, especially if the taxpayer does not have the obligation to file the return. The Tax Agency emphasizes, first of all, that those who have obtained income in the year greater than the amounts set for each class or source have an obligation.
Exceptions in the Income statement
For work income -including, among others, pensions and passive assets, including those from abroad, as well as compensatory pensions and non-exempt annuities for food-, the Treasury establishes the limit to force to declare in the annuals.
This is as long as the taxpayer had only one payer during the year. When the income obtained from the second and the rest of the payers exceeds 1,500 euros together, the limit will be 14,000 euros per year.
In the case of income from movable capital -share dividends, interest from accounts, deposits or fixed-income securities- and capital gains, taxpayers will have to submit the declaration when the amount exceeds 1,600 euros per year and provided they have been subject to withholding.
In addition, for imputed real estate income, full income from movable capital not subject to derivatives withholding of Treasury Bills and subsidies for the acquisition of subsidized housing and capital gains derived from public aid, the amount will be joint.
beneficiaries of deductions
Regardless of the amount of the income and its nature, the Treasury recalls that taxpayers are also obliged to declare that they are entitled to apply the transitional regime of the deduction for investment in habitual residence, the deduction for double international taxation, or haado contributions to protected assets of people with disabilities, pension plans, insured pension plans, corporate social security plans, dependency insurance or social security mutuals that reduce the tax base, when they exercised the corresponding right.
Non-obligation does not imply not having paid personal income tax
The Tax Agency also specifies that they have the obligation to present the “those not obliged to declare by reason of amount or nature of the income that request the return derived from the personal income tax regulations”. That is, when the Income statement is returned to the taxpayer. You will have to declare it if you want to get the difference that corresponds to you
That is to say, not being obliged to present the declaration does not imply not having paid for the IRPF, it is even possible that it has been paid above what corresponds. This is due to the withholdings applied on the yields obtained, which may have been higher than the corresponding taxation according to the income and circumstances of the taxpayer. For example, the Treasury indicates deductions for maternity, large family or people with disabilities in charge.
For this reason, it is always advisable to review the draft, a simulator of the declaration prepared by the Tax Agency with the personal and economic data it has of each taxpayer. Of course, if the tax is presented with incorrect information, it is the responsibility of the taxpayers, with the possible consequences.