Perhaps it is because of the multitude of boxes and convoluted appendices or because each year brings new things, but the truth is that myths and fake news always abound around the Declaration. And the worst thing is that taking any of them as true can have negative consequences for our income.

A high payroll withholding makes me pay less or have to pay back ❌

Although the theory says that the further we go through payroll withholdings, the less we will have to pay in the Declaration is true, the reality is slightly different. Remember that the Income tries to adapt to the situation of each person, so it could vary from one case to another. This is especially important if we compare the results of the Declaration with co-workers, in whom with the same or very similar salary large changes can be seen. The reason why this happens is because not everyone lives the same reality: some may have children or dependents in their care, others rent properties or investments... All of this counts in the Income and will cause the result to vary from one individual to the next. other.

Having two or more payers is synonymous with paying (much) more personal income tax ❌

Another of the great myths that does not correspond to reality. As you well know, any remuneration payment for work (whether payroll or self-employment) allocates a percentage to the payment of personal income tax. The problem is that 1+1 equals 2 and that by adding personal income tax it seems that we pay more, while in reality we are paying what we should.

However, there may be two conditions that can cause our Declaration with two or more payers to go up more than expected. The first and most common is that some of them are not withholding the personal income tax that they should, so when it comes to settling accounts with the State, they have to pay it. The second and which may be related is that if your overall income volume increases, you may also need to increase your personal income tax percentage. Keep in mind that payers don't know your total income, so they usually apply standard personal income tax.

Whatever it is, you just have to review how much personal income tax you should pay and, if there are discrepancies, notify the payers of the necessary change.

Receiving a subsidy means having to make the Declaration ❌

Another false information. As we have mentioned, there is an income limit that delimits who must file the Declaration and who must not. Therefore, whether you have subsidies or not, if you do not reach that limit you are exempt and vice versa.

If you buy an apartment with a black part, the Declaration will be better for you ❌

Ignoring the part about paying black is a crime, it should be noted that if you declare that your new home has a lower value you will have a big (and disastrous) surprise when you sell. The reason is capital gain, since having falsified the initial price, the property will have a much lower base value. When making the sale, the sale price will be subtracted from the purchase price to obtain that profit and since the initial price is lower, in the end you will have to pay a lot more.

Managing property rentals through a company is much better ❌

This was true for some years since it allowed you to save some taxes, but it stopped being true in 2013, so it is an argument that has been out of date for 11 years. It is also not possible to deduct taxes for the purchase of a habitual residence.

If you receive a parallel, be prepared to be investigated every year ❌

It is clear that if something smells bad, the Treasury will investigate. And if the suspicions were finally true, they may also look at you a little more carefully in the coming years. But these cases are the minority. The reality is that the Tax Agency carries out routine and random checks every year, which means that perhaps you have just been unlucky. If you have done your homework well, there is nothing to worry about, much less that they will ask you for explanations again the following year.

If it comes back to you, be careful ❌

Another legend says that the Treasury looks especially closely at the Declarations that are returned. And yes, it's probably true, but they don't pay more interest than those who pay. Think that fraud can be anywhere, so one thing has nothing to do with the other.

Continue learning more about how to manage your money appropriately and achieve, little by little, total financial well-being for your future.

Reference: https://www.vivemasvidas.com/finanzas/gestiona-tu-dinero/novedades-declaracion-renta