As every year, Spanish taxpayers must submit Income tax and Wealth Tax returns since 01-04-2020 until 30-06-2020.
It is important to know that, both tax returns can only be submitted electronically through on line programs located at the web site of the Spanish Tax Agency (https://www.agenciatributaria.es/AEAT.internet/en_gb/Inicio.shtml). This means that you can view your tax details, obtain the draft and confirm the tax return only by the referred electronically service (RENTA Web program).
News. Management of the Income Tax returns 2019
a. The identification of the taxpayer's fiscal domicile is simplified, which this year will be carried out separately from the rest of the return.
b. All the information related to the real estate owned by the taxpayer is consolidated in a single section, related to real estate. Thus, it will reflect, with respect to each property, the use or uses that said property may have had during the year.
c. In case of lease:
i. All the concepts necessary to assist the taxpayer in calculating the return on real estate capital are broken down, particularly the amounts earmarked for amortization. Thus, in the next financial year the taxpayer may obtain this amount directly from Renta WEB.
ii. It is expressly specified that the NIF of the tenants should only be identified in the case of a lease of housing intended for habitual residence; Tenants should not be informed in the case of tourist leases or business premises.
d. In relation to real estate capital yields, to expedite the processing of returns and reduce the number of requirements, a new Annex “D” is created for voluntary completion, in which taxpayers can enter the NIF of the suppliers of certain expenses , as well as its amount.
e. Another important novelty is the ratification of the fiscal domicile, which will be requested from all taxpayers when they access the different Income campaign services. This will allow updating addresses and improve the management of declarations.
You will be asked to ratify the address when you consult your tax data, access personalized income services and my personal income tax records, make an appointment or use the Tax Agency app.
When you access any of these services for the first time, you will be asked to ratify or, where appropriate, update or modify your tax address. Once the ratification or modification - update has been carried out, you will not be requested again in the following accesses to the Rent campaign services
2. Economic activities (i.e. freelance workers, businessmen, professionals, etc.)
In relation to the "Income from economic activities in direct estimation", to give greater legal certainty to taxpayers and to be able to offer them in the future a service to transfer data from their fiscal books to the declaration model, the income ratio is modified computable and deductible expenses.
Do not hesitate to contact us for any additional information or if you prefer, proceed to submit your INCOME TAX and WEALTH TAX returns 2019.