Whether or not the result of the Income Tax return returns, depends on the income tax withholdings that your company applied to you last year or on the payments made by the self-employed. So, the final amount that the Treasury will pay us -in case this corresponds- it will depend on the sum of the withholdings, the income on account and fractional payments made of the Personal Income Tax, as well as the quotas of the Income Tax of non-residents paid by taxpayers who have acquired said condition by change of residence, plus the amount corresponding, where appropriate, to the deduction for maternity or the deduction for large family or people with disabilities.
Therefore, the deductible amounts that reduce the full amount have a maximum, that is, in addition to the limit amount that they have individually, they will never be able to exceed the income tax withholdings practiced during the year. This includes tax benefits such as the deduction for investment in habitual residence, for investment in recently created companies, the general ones of state regulations, the autonomous ones or the deduction applicable to family units made up of tax residents in Member States of the European Union, among other. In addition, the result of the declaration for taxpayers entitled to family deductions so-called “negative taxes” will be added to the final result. This includes deductions such as maternity, large families or dependents with disabilities.
Regarding the amount of the result of the declaration, the Practical Income Manual 2019 establishes that if the result of the declaration is positive, the taxpayer will have to pay the Treasury. In this case, you must enter the total amount or through a first installment payment domiciled until June 25. Taxpayers who want to split the subscription will have to make the second payment before November 5.
If we look at the final result by squares, we see that the amount of the return cannot exceed the sum of the amount reflected in box (609) for payments on account plus the sum, if positive, of the difference between the amounts reflected in boxes (611), (612) and (613). Specifically, we find that the final result is recorded in number 695, where the figure included here will determine if we have to pay the Treasury or if we will receive the refund in our bank account.
If the six-month period has elapsed without the payment of the refund having been ordered for reasons attributable to the Tax Administration, the interest for tax delay will be applied to the amount pending from the day following the end of said term and until the date in which your payment is ordered, without the need for the taxpayer to claim it.
Finally, it should be borne in mind that, if errors or omissions in the return are observed, the Tax Administration can rectify the result of the taxpayer’s settlement by means of the corresponding provisional settlement, modifying the amount of the refund requested or determining the inadmissibility of the same.