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Tuesday, April 13, 2021

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Income Tax Declaration 2020: everything you need to know when filing in the ERTE year

A measure is introduced that will facilitate the declaration of real estate capital returns from real estate.

The 2020 Income and Assets Campaign will begin on April 7 electronically and will end on June 30, according to the calendar published by the Tax Agency in the draft Ministerial Order that will govern it. Although June 25 is the deadline for filing the return, if payment is requested by direct debit.

There are no substantial changes compared to the previous campaign since, on the one hand, the changes are usually part of the fiscal policy criteria incorporated into the Budget law and in 2019 the 2018 budget has been extended
And, on the other, the Tax Agency itself justifies the absence of news in the public health emergency situation caused by Covid-19, which has determined that the regulatory measures adopted have been basically oriented to the health, economic and social level.

What’s New

However, some formal developments are worth noting. For example, a measure is introduced that will facilitate the declaration of real estate capital returns from properties under lease during the 2020 financial year.

The taxpayer will be shown the calculation of the amortization that is the main deductible expense in the leases that is deducted from the information completed in the return of the previous year and will allow him to transfer it to the return for the year 2020, and if necessary modify it, and calculate without further operations, the amount of the deductible amortization.

Another notable novelty in the declaration for the year 2020, in the section of income from economic activities in direct estimation, is that for the first time it will allow taxpayers to import the data entered in the register books of the Income Tax of the Physical persons.

In this way, taxpayers who carry out economic activities and are obliged to keep record books may transfer the content of the Sales and Income Record Book and the Purchase and Expenses Record Book to their return, facilitating the completion of this section.

The model of record books can be obtained from the Agency’s website. This transfer of data implies a considerable simplification in the completion of this section of the personal income tax return form.

Declaration model

They are confirmed in the draft Order that will regulate the return model, the procedures for obtaining, modifying and submitting the draft return, which can be accessed at the electronic headquarters of the Tax Agency from the first day of the campaign (7 of April), using one of the usual identification systems.

These are, through a recognized electronic certificate and / or through a procedure that begins with the communication of the number and date of issue or expiration of the national identity document of the taxpayer and the amount of box 505 of the tax return. Income of Individuals for the year 2019.

The validity in 2020 of certain data that expire annually is updated, such as the list of events that, in the year 2020, are considered events of exceptional public interest for the purposes of the deductibility contemplated in the Tax Regime Law of the non-profit entities and tax incentives for patronage, which implies the modification of annex A.3 of the declaration, within the section “deductions for incentives and incentives for business investment”.

Likewise, the list of regional deductions is updated to collect those in force for fiscal year 2020.

By phone, in person and ‘online’

Regarding the filing of the Personal Income Tax return, this year, as in the previous year, the return must be submitted alternatively, by electronic means through the Internet, at the electronic headquarters of the State Agency for Tax Administration and by phone.

Also in the offices of the State Tax Administration Agency upon request for an appointment, as well as in the offices authorized by the Autonomous Communities, cities with the Statute of Autonomy and Local Entities for the confirmation of the draft declaration.

If the declaration turns out to be entered, the taxpayer may direct the income, enter obtaining a complete reference number (NRC) from their bank or may make the payment through a document for the income obtained in a collaborating entity that must be printed and make said income.

It is convenient to specify the obligation of taxpayers that they satisfy or receive benefits derived from the Temporary Employment Regulation Files (ERTE).

Regarding the workers

Those who receive passive benefits (subsidies, pensions) from two or more payers with a limit of 22,000 euros are exempt from submitting the Income declaration, provided that in the event that there is more than one payor, it does not exceed 1,500 euros (the general limit for the rest of the taxpayers is 14,000 euros).

The Minimum Vital Income is not subject to Income Tax, but not other perceptions or subsidies such as rental aid that must be included in the return as income assimilated to work, with the particularity that they are attributed to the year in which they are received, not the year in which they are recognized by the granting public entity.

As for entrepreneurs

The benefits that the employer pays to the workers are declared in model 190 (key unemployment benefits and subsidies). If the obligation to return them arises due to non-compliance with the conditions, their amount is included in the same model with a negative sign.

The extraordinary benefit that self-employed workers receive for cessation or reduction of activity is not treated as a return on economic activity, therefore, it should not be included in the model 130 of payments on account. On the contrary, it is considered an income from work comparable to unemployment benefit and must be included as such in the income statement for the year in which it is received.

In summary, for the declaration of income for the year 2020 whose declaration period will begin soon, few substantial new features, except for some improvement in the fulfillment of formal obligations.

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