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Spanish Tax Return Season Gets Underway

Fri 15th Apr 2016
Spanish Tax Return Season Gets Underway

Tax return season gets underway this month or more formally known as RENTA 2015 and has already caused mayhem in the initial few days.

A rush of registrants eager to get their tax returns in early, descended on the new online system RENTA WEB launched by the Agencia Tributaria, otherwise known as the inland revenue service, virtually crashing the system.

Frustrated users were met with message after message telling them to try again later due to exceptional demand on the service.

The new system was designed to streamline and speed up filing tax returns and issuing any rebates. As with previous years, the online system allows taxpayers to access a draft of their return and in some cases directly file it with the Tax Agency.

Individuals expecting a refund or rebate are often advised to file their returns early in order to receive their funds rapidly. Delaying a return has often meant waiting months for refunds or rebates to be credited to claimant’s accounts.

This year however, it is believed more people than usual are owed some form of tax refund given the changes in income tax rates earlier this year.

Both Spanish nationals and foreign residents, whether self-employed or whose employer deducts their tax at source are required by law to file a tax return. Individuals have until 30th June 2016 to file a tax return for 2015. Anyone who want to sit down with a tax official and receive assistance with their return, are being advised they can make appointments from 4th May onwards.

There are some exemptions from who must file a return.

• Anyone earning less than €22,000 per year as long as the income is from one source

• Anyone earning less than €22,000 and secondary and/or third sources total less than €1,500 per year

• Anyone earning less than €12,000 even if from multiple sources

Low income earners should file a tax return if they wish to benefit from certain tax breaks related to maternity, mortgages, or dependents.

Additionally, if you took out a mortgage before 31st December 2012 you may be eligible for a tax deduction of up to 15% of interest paid, with a maximum refund of €9,040.

Private pension holders may also be eligible for a deduction of up to €8,000

To find out more, visit the official Agencia Tributaria website in a variety of languages by clicking here .

Tumbit recommends you seek independant tax advice from an appropriately qualified person in Spain to avoid any problems with taxation in Spain.

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