Every person who receives income is required to pay income tax on a monthly basis. However, according to legal regulations, it is possible to reduce taxable income in some cases. Throughout the year, income tax is deducted from wages, by the end of the year the amount is quite impressive, but if some part of the income was spent on tuition fees, life insurance, home purchases or mortgage interest payments, the tax authorities can return the difference.
It is necessary
- - passport;
- - TIN;
- - application;
- - declaration.
Instructions
Step 1
To return part of the paid tax, you need to come to the tax office and submit a completed package of documents. For the majority of citizens, declaring income is not a mandatory procedure, but it is impossible to do without a declaration when refunding income tax. The refund procedure itself requires the correct filing of a tax return and a tax refund application.
Step 2
Making an income tax refund presupposes compliance with some rules:
Filling in a tax return;
Step 3
Availability of a certificate of income from the place of work, as well as a photocopy of the passport and identification code;
Step 4
Collection of a package of documents that confirm the right to receive a tax deduction;
Step 5
Opening an account with any bank to transfer funds from the tax authority;
Step 6
Registration and submission of an application for the provision of a deduction by indicating the details of the bank account;
Step 7
Waiting for the decision of the tax office on the refund of personal income tax.
Step 8
A tax refund is issued either for the past years, then the funds are credited to the taxpayer's bank account, or for the current year, but only if it is a property deduction from the purchase of a home. In this case, the tax authority sends a notification confirming the possibility of obtaining a property deduction and providing it to the tax agent, who, in turn, makes calculations and carries out a refund of income tax.
Step 9
The tax may not be withheld from the current salary until the entire amount of the property deduction is exhausted and is returned for the first months that have passed since the beginning of the year. If the refund will last for several years, then you will have to annually draw up and submit documents to the tax authorities. Submission of certificates, photocopies of documents and statements will not cause difficulties, however, the form of the declaration changes quite often and this must be monitored. Both options look quite attractive, but it is up to you to decide which way to issue an income tax refund.
