The General Directorate of Taxes (DGT), a body attached to the Ministry of Finance, clarifies when the Income Tax return must be submitted for rescuing the pension plan.
Taxes indicates in a consultation on September 26 that retirees who are collecting their public pension and, at the same time, want to rescue their pension plan, have the obligation to present the Income if they exceed certain amounts.
Specifically, when receiving the public pension and then the amount of the plan’s rescue, it would be counted as two payers.
Therefore, the limit of work earnings (as the pension is considered) cannot exceed 22,000 euros per year and the sum of the amounts received by the remaining payers (in this case the pension plan would be considered as such). cannot exceed 1,500 euros per year.
In this way, if a taxpayer collects 15,000 euros in pension and redeems 1,500 euros per year from the plan, they do not have to make the declaration, as explained by the General Directorate of Taxes in its consultation. However, if the amount you withdraw from the pension plan is higher, you will have to present the Income Tax even if the public pension does not reach 22,000 euros per year.
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