2023 has entered its final stretch, and with it, the Treasury campaign for the payment of Income also begins to close. The deadline for submitting the Income Tax return ended on June 30 of this year, which means that the time limit to pay the Tax Agency the remaining percentage of your debts It is just around the corner.
However, this is not the only scenario. Sometimes, the Income Tax return can be issued to the citizen to return, a case opposite to that of paying. In this case, It will be the Tax Agency who will have to deposit the person with the estimated amount when submitting their return.and there is a period of up to six months for the Treasury to make the transaction effective.
If the latter is your case, the Tax Agency has few months left to make the corresponding refunds in your name. In the opposite scenario, you could be forced to pay the second half of your payment in installmentsand you would also have little time to do it.
When and how to make the installment payment to the Treasury
Fractional payment is a method used by the Treasury to help families or people who do not have the necessary resources to disburse the full amount of money requested. In this case, the citizen may resort to this modality, dividing the amount into two parts. The first of them will be 60% of the debt, and must be made at the time of declaration. The second will remain pending to be paid until November 6 of the corresponding year.
The date is getting closer, and once the limit is reached, The charge will be credited to the account of the corresponding citizen as a form of direct debit payment. In this way, the Treasury ensures payment of the assigned amount, even if the user does not have the means at the time of collection.
In this last instance, The Treasury will communicate with the debtor through a notification. In it, he will urge the citizen to regularize his situation, and in the process it is likely that a small surcharge will be applied that will depend on the delay and the amount owed.
What happens if I cannot pay the Tax Agency debt on time?
If you fail to pay at the time of payment, The Treasury could open a enforcement procedure in your name. This could lead to the seizure of assets and a significant charge to your name. The latter does not have a fixed number, and the amount could vary between 10% and 20% of the total amount owed.
The usual order of punishments applied by the treasury usually goes as follows:
- Notification: The Tax Agency will notify the taxpayer regarding the unpaid debt and will give a deadline to pay the corresponding amount.
- Embargo: If the debt has not been paid, the Treasury will begin to seize movable and immovable property. They could be properties, vehicles, bank accounts and others.
- Sale of goods: If you still continue not to pay the debt, the Treasury will begin to sell your seized assets to raise the requested money.
- Precautionary measures: The Tax Agency could resort to various measures to urge the citizen to make their payment. Among them, the suspension of licenses and permits that the taxpayer needs to carry out different activities.
- Judicial process: As a last resort, the Treasury could take legal action against you for tax evasion.
Nevertheless, The citizen will have the possibility of presenting a deferral of payment to the Tax Agency. To do this, you must present a valid justification explaining the reasons for the delay. In addition to this, the Treasury will pay an interest percentage of 3.75% of the total debt.
What are the requirements to defer payment to the Treasury?
- Do not have pending notifications with the Tax Agency.
- Be up to date with Treasury payments.
- Be the account or card holder in charge of making payments.