Filing an income tax return is a financial duty that all citizens have, and although most of us hope that it will be refunded to us when we submit documents, the reality is that in most cases it is pay. For taxpayers in this situation, it is vital to know the options available to cover this payment.
On the Tax Office website The method of filing the income tax return and all deadlines are explained in detail. When the tax return containing the result to be paid is submitted, The default system recommends payment in installmentsAn alternative that allows you to split the total payment into two installments. The primary advantage of this option is does not carry any additional fees. The taxpayer pays the same amount either in one lump sum or in two installments.
How to divide the installment payment? It’s very simple, in two parts:
- First pay. It represents 60% of the total collection obtained as a result of the declaration. This first payment is made when the return is filed. You also need to specify whether you want to directly debit the payment of the second installment (the remaining 40% of the collection).
- Second payment. If the taxpayer debited the payment directly, 6 November 2023, “the cooperating organization where the payment of the second installment is located will be responsible for debiting its import to the account specified by the taxpayer and then sending the relevant proof of payment. In this case, you must have sufficient funds in the specified account,” explains the official institution’s website. If the payment of the second installment is not directly debited, “it can be paid directly or electronically via proof of payment to any of the cooperating organizations located on the territory of Spain, model 102You can obtain it through download via Internet portal of the State Tax Administration Institutionor in any case Delegation or Management We also read the article “State Tax Administration Institution” on the website.
Postponement of payment of income tax return
It is possible to request a postponement of payment if the taxpayer does not have the required funds on the due date. This option is available for a variety of taxes, including income tax returns.
It is important to consider this Postponement entails additional costs. There is a relevant interest rate determined annually in the General State Budgets. He said until 2023 interest 3.75%. It is also important to understand that the option to pay in installments is not possible after requesting a postponement.
The taxpayer has the responsibility to propose deferral terms, specifying the amount to be paid in each installment and the payment terms that must be monthly. Finally, the Tax Office will evaluate the request and decide whether to approve it. If the debts are less than 50,000 Euros, The maximum postponement period has been extended to 24 months for natural persons and 12 months for legal entities.
If the debt is more than 50,000 Euros, the existence of financial hardship must be proven and payment guarantees must be provided.
Refusal to postpone payment of tax return debt
It is possible for the Tax Office to reject the postponement request. If this occurs during the voluntary payment period, the taxpayer must cover the total debt plus late payment interest. This interest accrues from the date the postponement is requested until the day the rejection is notified.