• From this Wednesday we have the possibility of downloading the draft and making the 2021 Income Tax Return, advancing the available deadlines for delivery and getting rid of the paperwork
  • According to the result of the draft presented online, to be returned or paid in, we will have to adapt our tax situation to the requirements of the Tax Agency
  • For the first time, we must also declare the assets that we have in cryptocurrencies, and there are confusing publications about it, on which it is necessary to stop, to ratify or rectify

As you probably know, this Wednesday, April 6, was the date set by the Treasury to make the mandatory Income Statement regarding the 2021-2022 period. And, as has already been said repeatedly, we have three ways to present the draft: online, by phone or in person.

As it is the methodology that the majority of Spaniards already choose, and the one that best suits our scope of action, we are going to dwell on the following lines in the Important details about the 2021 Income Statement. Focusing specifically on your online presentation, and what are the steps you must follow to do it.

What to know before making the 2021 Income Statement?

The first thing that the taxpayer has to have on hand is the reference number. It is obtained in the immediately previous declaration, that of 2020-2021, in box 505. Without this information it will be impossible to continue the procedure.

On the other hand, you will have to identify yourself on the Treasury websitefor which they ask you for a digital certificate, or to be registered in the Cl@ve system. We also advise you to update all your tax information.

Once the draft is ready, if the result of the evaluation is to be paid, the system will create a proof of payment, which must be presented at the bank to pay the corresponding amount. Otherwise, if the result of the evaluation is to be returned, the amount in question will be deposited in a bank account that you have previously contributed. Obviously, if the result is zero, you can forget about it until next year.

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All this, of course, as long as the information has been completed accurately, to avoid penalties. What’s more, We recommend you to be careful with the deductions to which you can choose, such as housing, children, studies, jobs, and others. Thanks to them you can reduce the amount to be paid, or even receive money.

How to download the 2021 Income draft?

The draft of the Income is a “proposal” of Declaration that is prepared by the Tax Agency itself, in order to facilitate this procedure. It is essential to clarify that the data that appears there may be wrong, and must be corrected. The taxpayer has the duty to modify this information when it is appropriate to do so.

Taxpayers can request the draft of their return from today from the Tax Agency website, as well as from its official application. In May they will be able to do it by phone, and in June in person. In any of the cases, but with emphasis on the online version, you can access in three different ways:

  • With electronic certificate or DNIe: you need an electronic certificate issued by the Royal Mint, or an electronic DNI. Then, go to “With electronic identification certificate or electronic DNI”, within the Renta Web service, and select the certificate.
  • with reference number: you need a reference number, which will be given to you when you communicate your Tax Identification Number (NIF). Next to it, the expiration date of your DNI or support number of your Foreigner Identity Number (NIE). And also the amount that appears in box 505 of the 2020 Declaration.
  • With Cl@ve PIN: you need the key, which you will choose yourself, together with the PIN, which will be sent to you by text message. You have 10 minutes to complete the operation, and you must register beforehand to take advantage of this solution.
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How to make the Income Statement 2021

With the draft at your disposal, it is time for the central part of the process, which includes making the Declaration. You have to follow a few simple steps that we list below, and then you will not have problems later.

When you have accessed the Draft, you have to check that all the personal tax data is correct. Whenever you detect that one is wrong, you must correct it before sending the final proposal. Assuming there is a draft already started, you will also be able to recover it before starting.

then you have to go filling in all the information that will be asked about your tax situation. There will be spaces that will be empty, like those of cryptocurrencies what we’ll talk about later Others to modify. Some will allow you to go ahead without making changes, as long as you have double-checked everything.

At the end, the system will take you to a screen, “View transferred data” where you can see your information. Even, those that have been loaded automatically are differentiated from those loaded manually.

We suggest you pay special attention to deductions, state and regional. Because depending on your circumstances, you could benefit from some of them, enjoying financial relief at the end of the draft.

We can move between the sections and menus with the arrow commands, or go to Sections to quickly move to the one that interests us. If you have to search for specific thermals, use the magnifying glass in the top menu. In the meantime, go validating all the new data, to make sure that they are entered.

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If the system does not notice any errors or failures, and you are convinced that everything is perfect, all that remains is to send it. You have to click on Submit declarationoption that appears at the top of the screen.

Automatically, you will be informed if you must enter the IBAN of the account to receive the money they owe you or if, on the contrary, you have to pay what you owe by means of an electronic payment or payment with a cashier document.

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And what about cryptocurrencies?

As we said at the beginning, those who own assets in cryptocurrencies, such as Bitcoin, must comply with the taxes that are on them. This, as part of the taxes on the income of natural persons (IRPF). Eventually, they could enter Patrimony and Inheritance and Donations, if that were the case.

You will notice that the draft Declaration of the Renta 2021 It has a specific section for crypto assets. Right there you have to declare your balances in cryptocurrencies. They no longer go in goods and economic rights.

base, the treatment of cryptocurrencies is the same that they already had shares as investment funds. In other words, the amount obtained from a sale or income generation operation is punishable by tax a minimum of 19% and a maximum of 26%. As applicable to each transaction and crypto portfolio.

That, regardless of whether it is operated with foreign or national exchanges, and regardless of what cryptocurrencies are involved. Any transaction that involves them, therefore, must be declared in the Income.

Regarding the situations in which the taxpayer records losses, they may be compensated in up to four following years with the profits. In concept of “transmission of other assets”.

Finally, activities such as staking or cryptocurrency farming, with their income, must be declared.

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