Did you know that when you make the income statement, you can get a refund of the IRPF?
That’s right. The IRPF is an advance payment that the Tax Agency separates from the income of Residents in Spain. However, you may be eligible for a tax refund. Everything will depend on your retentions. In the event that there has been withheld in excess, the difference will be returned. This subject is a bit complex, but do not worry. At DELMAR, we can help you to organize your statement (link).
Here are some more details. The IRPF retention includes amounts for three categories:
- Earnings from our work or from our movable and immovable properties which were used for an economic activity.
- Profit or loss of our assets.
- Any other income that is not received in the form of money.
If you are an employee, the IRPF is withheld from your payroll. But if you are self-employed, the calculation is a little bit complicated since the percentage to retain varies depending on the economic activity or on the time since you have declared yourself self-employed. If you want to understand this mess a little better, we can give you the best advice. Contact us for more information.
