Taxpayers with incomes between 22,000 and 35,000 euros
With the 2023-24 Income Campaign already underway, taxpayers with incomes between 22,000 and 35,000 euros per year could be affected by the reduction in withholding tax on their payrolls.
Amount to return according to the situation of each person
As pointed out by El Economista, the Treasury will force taxpayers affected by this measure to pay between 400 and 900 euros. Of course, the amount to be returned will be different according to each person’s situation.
Change in the Income Tax Regulations
This refund appears due to the change in the Personal Income Tax Regulations made by the Government in 2022 and approved by the Ministry of Finance. At that time, the withholding of personal income tax from 22,000 euros had effects in the 2023 Declaration.
Withholdings lower than what he was playing
When this change was made, it was received as a relief. However, it may now become the opposite for these taxpayers. And it is that the deductions that their companies made on their salaries previously were less than what was due.
Who does it affect and who benefits?
As a given, the smaller the withholding applied by the company on the salary, the greater the new tax adjustment. For this reason, this measure will affect those who are at the lowest threshold (paying 22,000 euros) and who have family burdens. On the other hand, those who will be least harmed will be those who come closest to the maximum (paying 35,000 euros) and have no family burdens.
Limits for submitting the Income Statement
Finally, it is necessary to remember the limits for submitting the Income Declaration this 2024. Those who collect more than 22,000 euros from a single payer and those who have two payers and exceed 14,000 euros, collecting more than 1,500 euros from the second, must do so .
