Would you like to know what cards your poker partners have?
Surely the answer is YES.
If you had this information, surely it would be easier to play and win the game.
Well, if we transfer this to the world of taxes, take note of this important TIP that I am giving you today.
As you already know, and if you don’t know, I’ll tell you, we are in the middle of the 2020 Income Tax Return campaign in Spain.
This period ends at the end of June. So all tax declarations have to be in by then.
Now that there are a lot of Brits who have obtained their residency, and many of whom are considered as being tax residents in 2020, it is very important that you take note of this information.
“Would you like to know what cards your poker partners have? Surely the answer is YES“
YOUR TAX DATA (THE CARDS THAT THE TAX OFFICE HOLD IN THEIR HAND)
One of the tools that the Webpage of the Hacienda has in its Income Tax Declaration section, is the consultation of your TAX DATA.
It relates to the data that the Tax Office has about you.
Well, this is one of the first tips that I give to my clients: you should obtain the tax data, because it will tell us the information that they have about you.
It is super important to obtain this information, because on many occasions, we forget business operations, sales, etc. … that we have done, and that we have to pay taxes on.
It is quite normal, that if you carried out a transaction in January 2020, that now, more than a year and several months later, you have to include it in your income tax return.
And of course, as in the case of casinos, the bank always wins, so not including it will possibly entail a significant fine when you get caught.
IMPORTANT NOTE: It is true that the Tax Office clearly tells you, that the fact that there is no information in the tax data base does not mean that if it is not in the data base then you don’t have to declare it.
So, therefore, if the information does not appear, and you do not declare it, and then this information “comes to light”, you could be fined.
Believe me when I tell you, very rarely do the tax office lose and it is rare that it does not have any information about us.
PRO TIP #1
There are several ways to obtain tax data. But without a doubt, the best and fastest way is via a DIGITAL SIGNATURE. You already know that I am a fan of the Digital Signature. In this POST, I give several reasons why.
So if you can, get your digital signature and then you will be able to obtain your tax data easily.
PRO TIP #2
The pensions you receive from your country of origin are not subject to taxation in Spain, so the Spanish government does not have this information at the time they upload the tax data.
CONCLUSION
If you can get some kind of advantage in a card game, don’t miss it. The more you know about what the opponent knows, the better the game will go.
Remember our MISSION STATEMENT: WE GUARANTEE YOU PEACE OF MIND & THESE AREN’T JUST WORDS
PS. Please ask any questions you may have. Contact us.
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