It is the question that all taxpayers ask themselves when they access the draft and prepare to make the Income Tax return: will it be returned or paid? The answer to this question is the one that will determine the result of the declaration and, in short, the key for all the people who declare for the Personal Income Tax (IRPF).
The process to know if a return is to be deposited or paid is clearly defined by the Tax Agency. When the taxpayer accesses the Income draft, he will be able to consult the provisional result of his return. At that time, in the ‘Result of the tax return’ section on the home screen, you will see that number.
However, it must be said that the figure is not definitive. At the time of accessing the Income draft, the taxpayer must consult all the fields in detail, paying special attention to the section on state deductions and regional deductions, since that can bring you different economic bonuses.
You will also need to check that the other games contain the correct information. Errors in aspects as important as that of descendants, ascendants, full income from work or of another type can affect the final result of the return and would force the taxpayer to modify a return already filed, with the corresponding inconvenience.
Thus, after a thorough review of the entire draft, the taxpayer will be able to return to that initial page to check the result of the return. And then two things can happen:
When you get a negative result: this is what it means
If the figure appears with a ‘-‘ sign, it means that this figure, whatever it may be, is in favor of the taxpayer, so the return would be ‘refundable’. Or what is the same, that during the year more personal income tax withholdings were made than the taxpayer had to pay, so the Tax Agency has to proceed to return those amounts that were unduly withheld from the taxpayer.
The taxpayer has two ways of obtaining that money that is going to be deposited: by transfer to an entity established in Spain (whether it has been opened in Spain or abroad) or by transfer to a financial entity established abroad. In addition, he also has the option to waive the return in favor of the Public Treasury.
In any case, the Treasury has a specific period to make the returns: six months from the final day of the Campaign. If the agency exceeds this period, it will have to pay default interest (3.75%) to the taxpayer.
When you get a positive result: this is what it means
The other assumption is that the result of the declaration appears positive, which means that it has gone ‘to pay’. This means that the taxpayer has paid fewer withholdings than he owes during the year and, therefore, he has to make up for what is missing by paying the Tax Agency.
The taxpayer has two options to make the payment: in installments or in a single installment. In the first case, which is the one that appears by default, it supposes the payment of 60% of the debt before the end of the Campaign (June 30) and the remaining 40% in November. You can choose between direct debit, electronic payment or through a cash payment document.
If, on the other hand, the taxpayer does not want to split the payment, he may choose any of the above options and, in addition, request a request for deferral or recognition of the debt with impossibility of payment.
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