There are months that are critical for cash flow, producing tensions that make it difficult to meet payment commitments. An alternative to deal with these situations is to request deferments of debts with the Public Administration because of tax filing, which allows gaining a bit more time.
Debt deferment with the Tax Agency is a procedure by which the payment of a tax debt can be delayed when facing temporary cash flow difficulties. This measure can be requested using an electronic certificate, both for debts in voluntary and enforcement periods.
Debt in voluntary period: when it is within the voluntary filing deadline for taxes (there are established deadlines for each form).
Debt in enforcement period: occurs once the voluntary filing period has ended.
What debts can be deferred with the Tax Agency?
As a rule, the following can be deferred:
- Fractioned payments of Personal Income Tax, specifically Forms 130 and 131.
- Quarterly VAT declaration, which corresponds to Form 303.
- Form 200 corresponding to corporate tax.
What debts cannot be deferred with the Tax Agency?
There are debts that cannot be deferred with the Tax Agency, for example:
- Withholdings and payments on account corresponding to Forms 111, 115 and 123.
- Fractioned payments because of Corporate Tax, Form 202.
- Suspended final dismissal resolutions.
How can I defer a debt with the Tax Agency?
To request the deferment of a debt with a value of up to 50,000 euros, you will not have to provide any type of guarantee or endorsement, you must access the electronic office of the Tax Agency. The management procedure for these requests has been streamlined through the promotion of automated management, which reduces waiting times and improves system efficiency.
The ideal is to request the deferment by submitting the corresponding form.
To defer the debt, it will be necessary to provide the Tax Agency with the most relevant information such as the amount of the debt, the reason for the deferment (temporary cash flow difficulties), the bank account for direct debit payments, the number of instalments, and whether the payment day is the 5th or 20th of each month of the deferment.
What is the interest rate?
It is the legal interest for late payment.
The calculation of interest is done as follows:
- For debt deferment: Late payment interest will be calculated on the deferred debt, for the time between the day following the expiration of the voluntary payment period and the expiration date of the granted period.
- In the case of instalments: Late payment interest will be calculated for each fraction of debt. These will be computed from the day following the expiration of the voluntary payment period until the expiration date of the granted period. The interest accrued for each fraction must be paid along with that fraction in the corresponding period.
The Tax Agency has a debt interest and deferment calculator on its electronic office, so that taxpayers can know the legal interest, or late payment interest, applicable to debts, both tax and non-tax, as well as to deferrals, calculated in a personalized manner.
What are the deferment periods?
They are 24 months for individuals and 12 months for legal entities, for requests exempt from providing guarantees when the total amount of outstanding debt is greater than 3,000 euros. Additionally, these requests will be processed automatically, which will facilitate the almost instant granting of their deferment to a greater number of taxpayers.
Requests for deferment or instalment payment for a total amount of outstanding debt equal to or less than 3,000 euros will be resolved automatically according to the proposal of terms that the obligor indicated in their request and provided that the amount of each of the resulting instalments, excluding interest, is not less than 50 euros.
What are the advantages of deferring a debt with the Tax Agency?
Among the advantages we can highlight the following:
- The interest rate applied by the Tax Agency is lower than that of financial institutions.
- The deferment request is a relatively simple process and can be managed through the AEAT website.
- The Tax Agency offers flexible payment terms that adapt to the company’s financial situation.
- Companies have more comfortable cash flow to meet their current expenses.
