By Majorca Daily Bulletin reporter
The Income Tax campaign starts today, but only for filing tax returns online. Those who prefer to file at the Tax Office will have to wait file theirs between June 2 and June 30. During the 2019 Income Tax campaign, a total of 551,600 declarations were made in the Balearic Islands.
This year’s tax returns will be even more complicated than usual, because of the knock on effect of the coronavirus pandemic in 2020; the benefits derived from the Employment Regulation Files, or ERTE and the beginning of the Minimum Vital Income, or IMV.
151,658 taxpayers in the Balearic Islands have been affected by ERTE and many of them have been overcharged for mistakes made by SEPE.
To avoid any more problems, the Treasury is recommending that ERTE workers delay filing their income tax returns until June.
Over the next two months, the Tax Agency will issue instructions that will help prevent taxpayers from making mistakes and clarify which aspects to take into account. The State Tax Administration Agency has developed two guides; one for those receiving ERTE benefits and another for Minimum Vital Income benefits. The Tax Agency will also write to ERTE and IMV beneficiaries in the Balearic Islands.
ERTE
Hacienda points out that the ERTE benefit is subject to personal income tax and says beneficiaries could face two problems: the possibility of being obliged to submit a declaration when they have payments from an employer and from SEPE, or they have received non-originating payments.
Hacienda will also provide more personal assistance for people who are filing their taxes and to answer any questions taxpayers may have.
Job performance
In general, taxpayers must file an income tax return when their income exceeds 22,000 euros, but that limit is reduced to 14,000 euros if they receive payments from two or more sources which exceeds 1,500 euros.
The Treasury is on the brink of approving a regulatory change, so that taxpayers can split the personal income tax interest payment over six months, from July to December.
Up until now it’s only been possible to divide the payment into two payments of 60% at the end of the Income Campaign and the rest at the beginning of November.
There are 1,276 IMV beneficiaries registered in the Balearic Islands, who are also obliged to submit their declarations to the Tax Agency to regularise their situation for tax purposes.
April 7, 2021 at 12:59PM
via Majorca Daily Bulletin News Feed read more...
0 Comentarios