The State Tax Administration Agency (AEAT) has started to return 519 million euros to companies following the ruling of the Constitutional Court (TC) on Corporate Income Tax. This ruling has had a significant impact on tax collection, and the AEAT is working to comply with the refunds ordered by the court ruling.
In addition to these refunds, the AEAT has also refunded another 472 million euros to pensioners. These refunds are related to Supreme Court rulings of February 2023 and January and April of this year, which oblige the Administration to return the IRPF that could not be deducted previously for contributions to former mutual funds. These rulings have been crucial in ensuring that pensioners receive the refunds to which they are entitled.
However, as far as Corporate Income Tax (IS) is concerned, the Administration has so far only returned 18% of what was expected. The Ministry of Finance had estimated that the TC ruling would result in total refunds of 2,838 million euros, which implies that there is still a long way to go to complete this process.
The refund of these taxes represents a considerable strain on the public coffers, but it is a necessary measure to comply with court rulings and ensure tax fairness. Companies and pensioners who have been affected by these decisions are beginning to receive the funds owed to them, which represents significant financial relief.
The refund process, although still ongoing, is an important step towards the resolution of these pending tax issues. The AEAT and the Ministry of Finance continue to work to manage these refunds efficiently and effectively, ensuring that all those affected receive what is due to them in accordance with the court rulings.
These refunds underscore the importance of maintaining a fair and equitable tax system in which both businesses and individuals can be confident that their rights will be respected and protected. The Administration is committed to continuing this process until all refunds are complete and court rulings are fully complied with.
