Withholdings

Finally, it should be noted that Income Tax is paid monthly throughout the year through amounts withheld from payroll. Therefore, when the declaration period arrives in April-May-June of the following year, everything that has been paid during the year in the form of withholdings must be subtracted. If after this subtraction and all the reductions and deductions we have applied, the amount results in a positive amount, it must be paid in, but if we have overpaid, the Tax Agency will refund the excess.