Wednesday, May 25

Income 2020 campaign concludes

Employees serve taxpayers in person in Madrid.

Employees serve taxpayers in person in Madrid.

The Income and Heritage Campaign 2020 will end this Wednesday, June 30, so that taxpayers have today to prepare their returns.

The bell started on April 7 and it has been marked by the Records of Temporary Employment Regulation (ERTE) and the Minimum Vital Income.

In the cases of declarations with results to enter with direct debit account, the campaign concluded last Friday, June 25.

For the second year in a row, the Covid-19 crisis has marked the Rent campaign, thereby intensifying telephone attention and maintaining health measures to reduce capacity and maintain safety distances in common areas and between service posts in public areas. Offices.

What’s more, this year to the traditional doubts about Income declaration (who has the obligation to do it, how to declare a home or do it jointly or separately if you are married or married) the peculiarities of 2020 have also been added: the benefits derived from the Employment Regulation Records (ERTE) and the beginning of the Minimum Living Income (IMV).

6,700 million paid

As of the middle of last week, more than 19.3 million returns had been filed, of which 12.9 million were to be returned, according to the data provided by the Tax Agency to Europa Press.

Of the declarations that correspond to return, The Treasury has already paid more than 10.2 million for an amount that exceeds 6,700 million euros.

It is expected that in the entire campaign 21,570,000 declarations will be presented, 2.1% more than the previous year. Of this total, it is expected that 14,330,000 will give the right to a refund, two thirds of the total and 1% less than the previous year, for an amount of 10,857 million euros. In turn, 5,960,000 statements are expected to be filed, 5.7% more, for an amount of 12,976 million.

Also Read  Shop Great Deals at Target, Petco, and Kate Spade

The campaign forecasts are clearly conditioned by the Increase in those required to declare as a result of ERTE (more declarations foreseeably to be entered) and by the obligation to present a declaration for all recipients of the Minimum Living Income, with 26.9% more returns with zero results – neither to be paid nor to be returned -, given that the IMV is exempt income and it is about low income earners.

Without the effect of both groups, the number of declarations would decrease slightly compared to the previous year, as would the declarations with a balance to be paid, due to the effect that the stoppage of activity due to the pandemic has had on income derived from economic activities. those of capital and capital gains derived from property transfers.

Who does not have to declare

In general terms, Taxpayers with income exclusively from work up to an amount of 22,000 euros per year are not required to declare. However, this limit is reduced if the returns come from more than one payer (with exceptions), or also when the payer is not obliged to withhold and when the returns are subject to a fixed rate of withholding, which in such cases, the limit is 14,000 euros per year.

As in the previous year, taxpayers who have income from work, capital and economic activities, as well as capital gains (subsidies, awards and others) are not required, with the joint limit of 1,000 euros, together with capital losses of less than 500 euros.

Leave a Reply

Your email address will not be published.