Do retirees have to file Income Tax returns?

By law personal income taxHeminimum limit to have Obligation to file income tax return It was established at 22,000 euros per year for business income from a payer. same goes for passive benefitsThese include: pensions, passive assets from government public plans Social Security and public benefits for disability, retirement, accident, sickness, widowhood or the like.

At that time, retirees have to income statement? Although most people do not think so, retirees are wrong because they do not earn income from work. Pension is subject to income taxso most of them are retired they must file the declaration like any other worker. However, pensions have some special features to be aware of.

For example, a pension from abroadthis will count as a second payer, so if the income is more than 1,500 Euros, a declaration will need to be submitted.

Also, if the beneficiary provides a benefit, retirement plan and if all or part of this plan is withdrawn, they will be considered income from the business. Therefore, in case of exceeding 1,500 Euros as the second payer, it will be mandatory to submit a declaration of minimum 14,000 Euros.

if retired capital gainsfrom contests, online games, poker, or repayment of investment funds, they will have to submit the statement to the Treasury.

Which retirees don’t have to make an income statement

Some of the pensions income exempt from filing:

• Orphan’s pension.

• Alimony allowances received from parents by court order.

• Pensions for absolute permanent disability as well as severe disability.

• Benefits of death benefit.

• Pension in favor of relatives due to the absolute incapacity of the owner.

• Benefits derived from acts of terrorism.

• Dependent child benefits.

• Pensions for those injured or maimed in the Civil War.

• Spouse’s compensatory pensions.