November 5, 2024 was the last day for taxpayers who opted for the installment payment of their Income Tax return to enter the second installment, which corresponds to 40% of the Tax Agency (AEAT) debt. Those who have not paid the second payment will face a fine from the Treasuryeither due to forgetfulness or not having enough money in the bank account.
This fractionation, authorized by the Tax Agency, allows those who filed the declaration and paid 60% of the debt to defer the remaining payment without interest or additional surcharges. He entry can be made in two different ways. The first of them is through the direct debit. In this, the Tax Agency will automatically charge the remaining 40% to be paid to the indicated bank account.
For those who did not choose direct debit, payment can be made through the presentation of model 102. This document is downloaded from the Tax Agency website, completed and taken to a collaborating banking entity, such as banks, savings banks or credit cooperatives, to make the deposit. Then, it is necessary to present form 102 at a Tax Agency office or through its digital platform.
Fines for not paying the second installment of the Income
When the second payment of the Income Tax return is not paid, the penalties can range from 200 euros and up to 20% plus other percentages for surcharges. If the taxpayer does not make the payment within the established period, he or she faces a initial penalty of 200 eurosin accordance with article 198 of the General Tax Law, which regulates the failure to submit self-assessments (can be consulted in this Official State Gazette).
Now, in the second payment period for the Income Tax return, non-compliance can lead to other types of surcharges and possible sanctions specific to tax debts not paid within the deadline. The sanctions vary depending on when the payment is made:
- 5% surcharge: If the taxpayer makes the payment after the deadline, but before receiving a request from the Treasury, a 5% surcharge will be applied to the amount owed. This surcharge does not include late payment interest or additional penalties.
- Surcharge of 10% or 20% upon request: If the Treasury sends a formal payment request and the taxpayer responds within the stipulated period, the surcharge will be 10%. If this requirement is ignored, the surcharge will increase to 20%, in addition to late payment interest being applied (currently at 3.75% per year on the amount due).
- Additional sanctions for serious non-compliance: if the non-payment persists and the Treasury can take measures and proceed to seize the account (within the established limits) or the assets to cover the tax debt.
Furthermore, article 198 of the General Tax Law specifies a additional fine of 100 euros for not communicating changes in tax address. This infraction is considered minor and applies only in cases in which the taxpayer does not report his change of residence to the Tax Agency, provided that this information is necessary for adequate contact with the taxpayer.
What are late payment interests and when do they apply?
The late payment interest They are an economic penalty that the Treasury imposes on taxpayers when there is a failure to comply with the payment deadlines for a tax debt. These are imposed to compensate for the additional time in which the Treasury has not been able to use the money it was entitled to. To apply them, the Tax Agency will begin counting from the date on which the payment was missed. From that moment, if the debt remains unpaid, late payment interest accrues at the rate of 3.75% annually on the outstanding amount.
To understand it better, we can give the following example, if a taxpayer owes 1,000 euros as a second installment of the Income and the non-payment lasts a full year, the Treasury will apply a late payment interest of 3.75%, which represents 37.50 euros additional. If the delay is six months, the interest will be calculated proportionally, that is, 18.75 euros will be applied.
To calculate it, you must know that the Treasury applies late payment interest daily and it is calculated based on the exact time in which the payment has been delayed. Furthermore, the applicable interest rate may change each year, as the Treasury adjusts this percentage based on regulations.