How long does it take for the Treasury to return money to taxpayers?
How long does it take for the Treasury to return the money now that the 2023-2024 tax campaign is over? The answer to this question depends on several important factors that you should know and, precisely for this reason, we created a complete guide with everything related to the payment of Treasury refunds in Spain. Let’s get started!
The importance of tax refunds
Every year, individuals and companies in Spain are required to file their income tax returns and pay their taxes before the end of the campaign.
However, there are some cases in which you can receive a portion of the taxes paid during the fiscal year. These are the money refunds made by the Treasury .
Due to ignorance, many people end up losing the opportunity to recover uk email list this money. This is why it is necessary to understand the process to follow and the possible cases that can delay the return.
How long does it take for the Treasury to return the money: general deadlines for the return
After you file your tax return, the Tax Agency begins a review process. All data regarding your income is verified, as well as any deductions you may receive, depending on the case.
At the end of this review, the Treasury will tell you whether you will receive a refund or find out what it is, how to check it and modify it not, so when you receive the notification, you will most likely receive the money within a month. This is the average delivery time, although it must be taken into account that legally the Treasury has a period of 6 months after the submission period has ended (between June 28 and July 1).
If the refund takes longer than the sms to data aforementioned time, the affected taxpayers have the right to receive an additional payment for late payment interest corresponding to 4.06% of the refund amount. However, for this to occur, all the information provided to the Treasury about your economic activities must be correct, since any error in the data that generates a delay is not considered the responsibility of said institution.
Tax refund process
To receive a refund, you must submit an application along with all the documents you submit in your tax return. We are then talking about Form 100 , which corresponds to the “Income or refund document.”
If all the information is verified correctly and you are entitled to a refund, then you will receive the money directly to the bank account you indicated in your application. It is extremely important that when filing your tax return you enter the bank details without errors.
If you do not have a bank account, you can apply to receive payment by check. This option involves meeting some additional requirements and you will have to go to the nearest Treasury office.