What is the Supplementary Declaration?
This declaration consists of declaring the Personal Income Tax again but this time, adding the amount that had been omitted involuntarily to the Tax Agency in a previously submitted Income Tax Return.
There are two scenarios: the error made in the Income Tax Return can be in favour of the taxpayer or in favour of the Administration. In both cases, the ruling may be rectified as follows:
If it is a judgment in favor of the taxpayer, the taxpayer will have to file a brief showing the error.
In the case of a ruling in favour of the Administration, the procedure is carried out through a Complementary Declaration in which the taxpayer will rectify the error by presenting the amount omitted in the first presentation.
What is the importance of the Supplementary Declaration?
The Supplementary Declaration can save us from the fact that we have made a mistake in our Income Tax Return. In fact, it is the only solution to avoid a penalty or surcharge.
Are there deadlines for filing?
Yes, it is very important to present the Supplementary Tax Return within the deadline set by the AEAT in the Income Tax calendar, as once the deadline has passed, the Supplementary Tax Return will not be valid and any errors made in the Income Tax Return presented will be penalised and surcharges will be made (from 5% to 20% depending on the delay).
We remind you that for the RENTA 2019, they will have to be filed before July 1, 2020.
What happens if I submit it after the deadline?
If you file a Supplemental Return on time, you will only have to pay what you have inadvertently underreported. However, if you file it after the deadline, not only will you still have to file it and pay for what you missed on the first one, but you will also have to pay penalties for the delay.
Are there other options besides the Supplemental Declaration?
Yes, there are other ways to modify a tax return filed with errors or omissions:
On the one hand, we can file a substitute Income Tax Return. This type of Declaration replaces a Declaration already filed and is only valid in the case of informative Declarations. In the case of those filed by the taxpayer within the established period and voluntarily, only the Complementary can be used.
On the other hand, there is the claim before the tax authorities. It is possible when you want to rectify your already filed Income Tax Return because you detect an error or you omitted a deduction with which you would have obtained a more favourable result. You can always file an official claim with the Tax Office to get a refund of the IRPF you have overpaid. This is the best option to rectify an already filed tax return. If the change benefits the taxpayer, a brief must be filed.
Our team of RENTA experts will be happy to answer your questions and help you prepare your RENTA 2019.