Next Wednesday, June 30 is the last day for filing income tax returns in Spain. This year’s campaign was quite atypical and was clearly marked by people benefiting from an ERTE and benefiting from the Minimum Vital Income (IMV). According to data from the Ministry of Labor, in the harshest moments of the pandemic, there have been more than four million people in cases of temporary employment regulation and the vast majority of them are required to make tax returns with two payers. and receiving more than € 14,000. However, the tax agency reported that only half of them, around 1,932,000, had completed this tax process in early June.
According to a study carried out by the TaxDown platform, 60% of people affected by ERTE awaiting filing say they did not do so for fear of the result, while 40% complain about the complexity of the process. In fact, both the platform and the tax administration itself indicated that they had to increase the number of troops to remove any doubts about this management.
Despite these fears, around 60% of taxpayers who already submitted it have been fired, with an average refund of € 729 per person, 5% less than last year, as figures from the Spanish company confirm. . Indeed, according to the Tax Agency, 4,912 million euros have already been returned to 7,427,000 taxpayers. However, it should be pointed out to people making the declaration this past week that June 25 is the deadline for choosing the direct debit deposit method.
Return in 48h
Due to the challenges of this year’s campaign, 200,000 taxpayers have chosen to file their tax returns this year with TaxDown. Thanks to its algorithm, the platform is able to recognize all the deductions that taxpayers can choose to achieve the greatest possible savings, and helps to do this management in record time and in complete safety.
Likewise, on the occasion of the end of the campaign, and seeing that 80% of its users with a result “to be returned” request it, TaxDown launched a pioneering service in Spain, through which users of the platform with a result “to be returned” who qualify for a loan, they will be able to access an advance of that amount in 48 hours.
“This new service has been a request from TaxDown users since the start of the campaign,” says Enrique Garca, CEO and co-founder of TaxDown, and adds that “With 48-hour prepayment we are improving the value proposition to our customers, by simplifying the process, helping to save and now speeding up tax filing. ”“ It has been a complex year due to IMV and ERTE, so we have focused on providing the best tax service at an affordable price, ”concludes Garca.
Deductions for union dues and professional associations, the most applied this year
There are several studies that show that a large part of Spaniards are not sure that they have applied all possible deductions and many of them claim that they send the project without reviewing it. However, according to TaxDown internal data, 30% of the declarations filed show savings compared to the Tax Agency’s project. The most widely applied state deduction is union dues, followed by that for the rental of a habitual residence, which both in Catalonia and Madrid have a special regime. Finally, vocational college and child care fees top the list of deductions that help save the most.