By Anna Akopyan • Published: 03 Apr 2024 • 21:31
Calculating taxes can be tough Credit: Got Credit, Flickr
Adjusting to the Spanish taxation system can seem burdensome but it is vital to ensure a proper tax submission to avoid fines which can be easily averted.
With the tax income campaign now in motion, the application date of July 1 is insistently approaching; preparing your tax declaration as early as possible is wise to avoid making errors.
The residents subject to providing the tax income declarations are employed workers who have received a salary of more than €22,000.
Most common mistakes are concerned with the tax domicile; the location in which the taxpayer is registered. Providing a false registration direction can cost you a fine of up to €100.
Other potential errors to watch out for are not indicating your Tax Identification Number, including false deductions and documents, and incorrect declared income.
If you abstain from filing your income tax return, the Tax Agency will declare a penalty ranging from 5 to 20 per cent, deducted from the required fee to the Treasury, depending on the delay of your submission.
If you are hesitant about your tax submission, it is advisable to ask for assistance from English-speaking lawyers and accountants.
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Originally from Moscow, with Russian and Armenian origins, Anna has lived in Costa Blanca for over ten years. She is passionate about singing, acting and traveling.
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