The 2023 Income Tax Campaign ends this Monday

The Treasury plans to return 11.65 billion to taxpayers, 1.8% less than in the previous campaign

June 30 () –

The 2023 Income and Wealth Campaign ends this Monday, July 1, one day longer than usual, since June 30 falls on a Sunday this year, according to the Tax Agency’s calendar.

In this way, taxpayers who have not yet done so have just a few hours to complete the Income Tax returns corresponding to the last year before the end of the Campaign, which started on April 3.

It must be taken into account that in the cases of declarations with results to be deposited with direct debit, the campaign already concluded last Wednesday, June 26.

The Tax Agency plans to enter 18,908 million euros in the 2023 Income Campaign that started last month, 12.2% more compared to the previous year, while the amount to be returned to taxpayers will be 1.8% lower, with 11,650 million.

It is expected that a total of 23,281,000 declarations will be submitted in this personal income tax campaign, 1.2% more than the previous year. Of that total, it is expected that almost 63% of them will be entitled to a refund – 14,614,000, 3% less – for an estimated amount of 11,650 million euros.

SELF-EMPLOYED AND BENEFICIARIES OF THE IMV, OBLIGED TO MAKE THE DECLARATION

One of the new features of this campaign is that all self-employed workers will be required to file their Income Tax Return next year, regardless of their income.

Likewise, persons entitled to the minimum vital income and members of the cohabitation unit are required to submit an annual declaration corresponding to the Personal Income Tax.

Furthermore, this campaign has been marked by the extension of the maternity deduction, the deduction in personal income tax for nurseries after the Supreme Court ruling, even if the centre does not have the authorisation of an educational centre or the refunds to pensioners who made contributions to labour mutual funds and overpaid in personal income tax, after another ruling by the Supreme Court.

WHO IS NOT REQUIRED TO FILE?

In general terms, taxpayers with income exclusively from work up to an amount of 22,000 euros per year are not obligated. However, this limit is reduced if the income comes from more than one payer (with exceptions), or also when the payer is not obliged to withhold and when the income is subject to a fixed withholding rate. In such cases, the limit is 14,000 euros per year.

As in the previous year, taxpayers with income from work, capital and economic activities, as well as capital gains (subsidies, prizes and others), with a joint limit of 1,000 euros, together with capital losses of less than 500 euros, will not be required to file.