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What does a negative result on the income statement mean?


Next April 11th begins another year Income Campaign 2023 in our country. Spaniards who must submit their annual accounting performance will have until the next day June 30 To hand in this draft where your current income and income received throughout the 2022 fiscal year will be recorded.

Taxpayers can file it in three ways – online, over the phone, or in person – and depending on which method they choose, the exact term will change:

  • Online: from April 11 to June 30, 2023

  • By phone: between May 5 and June 30, 2023 (advance appointment from May 25 to June 29)

  • In person: June 1-30, 2023 (advance appointment between May 25 and June 29)

Among the biggest fears of citizens who have to hand in the declaration in 2023 is the possibility of that happening Exit to pay or return. Depending on your situation, different results may be given in the income statement, which is reflected in last box from the project. There, depending on whether it is a The result is positive or negativeyou will receive or have to hand over a sum of money to the treasury.

What does a negative result on the income statement mean?

in some cases, The result of our income statement can show a “-” sign, which means that this number is negative, and therefore in favor of the taxpayer. In this way, when a negative number appears, The treasury will have to return the money to us.

This happens when it is applied during exercise Personal income tax withholding from over To the taxpayer, the money for a citizen’s taxes is higher than it should be. When this happens, the IRS must proceed to return the amounts, as they were improperly withheld from the taxpayer.

See also  This way you can see if they will pay or return the income statement using the simulator

How does the treasury return the money?

The corresponding money is not automatically returned to those with a negative result on the income statement. It will be the taxpayer who requests it through “Payment or Return Document” (Form 100) accompanying the permit forms.

Payment will be made by wire transfer To the account to which the taxpayer refers, although such payment can also be requested by crossed or registered cheque.

In addition, the treasury has period of six months To return the corresponding amount to the citizen as soon as the campaign closes on June 30, 2023. From this period, the Tax Authority will evaluate these procedures to verify that there are no errors.

In the event that this bank transfer is not made within the period specified by the Treasury, the affected taxpayer can receive, in addition to the collection, interest for late payment without having to claim it.

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