The Income Campaign 2025 is set to begin on April 2, and it is essential for pensioners to be aware of whether they need to file their tax return with the Tax Agency. Not all retirees are obligated to do so; the key lies in their annual income and whether they have multiple payers.
According to the established rules, pensioners with a single payer will be exempt if their annual income does not exceed 22,000 euros. However, those who receive income from multiple sources will see this limit reduced to 15,876 euros, as long as the second payer has paid more than 2,500 euros in total. It is noteworthy that not all pensions are taxed equally.
There are cases of exemption, such as pensions for permanent total disability and severe disability. This year, the procedures have also been updated, and options to file the return by phone will be available starting May 6, while the in-person option will be available starting June 2.
It is crucial for pensioners to stay informed about the updates, such as the increase in the threshold for considering the second payer, which has been raised from 1,500 to 2,500 euros since January 1, 2025. Additionally, it is important to consider the origin of the pensions; foreign pensions are subject to taxation in Spain, although there are international treaties that prevent double taxation. It is essential to check if there is an obligation to declare if receiving income from another country and to know the exceptions to avoid fines or issues with the Tax Agency.
