Retired workers who contributed up to 1978 to the Banking Labor Provision should pay close attention to a declaration from the Spanish Tax Agency. The agency admitted to overcharging personal income tax and indicates that affected individuals may be owed money—potentially up to 4,000 euros. The exact amount varies, reflecting each retiree’s total years of work and the period during which they contributed to the mutual benefit tied to that labor sector.
It was a Supreme Court ruling that set this process in motion. The decision confirms that current retirees who contributed to the Banking Labor Partnership are entitled to a 100% tax deduction for their contributions through December 31, 1966, and a 25% tax deduction for contributions made from January 1, 1967 to December 31, 1978.
Additionally, the ruling implies that the State may owe money to workers who contributed to other professional associations within the same dates, including fields such as construction, steel and metallurgy, electricity, fishing, and shipyards, due to improper tax collection in those cases as well.
Message from the Treasury to those who receive fees above this amount
The procedure involves correcting personal income tax self-assessments for the years that have not expired, specifically the most recent four years. Those affected should pursue the debts owed by following the established steps to claim the amounts. It is important to note that if the beneficiaries pass away, their heirs retain the right to claim the corresponding sums.