Unexpected imbalance for the Treasury. The ministry led by María Jesús Montero has suffered a setback of 4,000 million between the budgeted funds and those finally collected in the last Income campaign. The main reason has been the avalanche of refund requests brought about by the Supreme Court ruling that gives the right to claim old taxes (between 1967 and 1978) to members of the defunct labor mutual societies.
Thus, of the 7,258 million euros that were expected to be received from this process, between the money received and the money spent on refunds, they have remained at 3,257 million, almost 45% less than the amount initially estimated, which in gross numbers adds up to approximately 4,000 million less than expected.
In detail, the favorable statements to the Treasury, that is, to enter, have not exceeded the forecasts. The ministry has been left with 16,856 million euros, a figure lower than the 18,908 million set in the General State Budgets. On the other hand, the declarations to be returned have been 13,599 million euros – the Treasury has returned 95% as of December 30 -, an estimate much higher than the projected 11,650 million euros
The key to the dance of figures is, as explained ABCin the ruling of the Supreme Court that recognizes from 2024 the right of members of the defunct labor mutual societies to claim taxes collected between the years 1967 and 1978. The high court considered part of these taxes as retirement contributions as income from work and not as quotes, as had been initially estimated.
In this regard, the Tax Agency moved its record in the final stages of 2024 and annulled the personal income tax refund requests submitted and still pending resolution. The Treasury has adopted a new system that leads retirees who find themselves in this situation to re-request a refund of what they overpaid, completing four different forms.
The ministry’s decision “is generating a kind of unrest in the affected people,” recently assured the president of the Registry of Tax Advisory Economists of the General Council of REAF Economists, Agustin Fernández, to portal 65 and more.
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The Treasury, for its part, highlighted in its statement that the vast majority of taxpayers (92%) continue to file their income tax return online, with a total of 22,171,000 returns in this way.
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