Every year, more than 20 million Spaniards present their income tax return. However, many of these taxpayers do not modify their draft, thus losing state and regional deductions that produce considerable savings. In fact, according to data from TaxDown, up to 32% of users accept the draft income without reviewing it carefully. By confirming the Treasury’s draft proposal in this way, we Spaniards stopped receiving more than 9,000 million euros in unapplied deductions.
For this reason, TaxDown wants to avoid these problems for Spaniards and help them file it with maximum savings and in a very short time. In fact, the average savings of Taxdown users is around 400 euros, reaching in some cases up to 1,000, applying the corresponding deductions.
“Taxdown helps anyone, without the need to have knowledge of taxes or taxation, to quickly and easily carry out a very cumbersome procedure that most citizens have to go through once a year: the income statement. To date, our company has achieved the national record for a private company in the number of tax returns filed. Last year, we managed more than 193 million euros in taxes for our ‘taxers’, saving them more than 17 million euros. In addition, this year, more than 250,000 taxpayers have already filed their income tax return with us,” says Enrique García, CEO of TaxDown, who together with Álvaro Falcones and Joaquín Fernández were the creators of this Spanish platform for online tax advice more than of three years.
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The advantage of TaxDown lies in its algorithm and its tax advisors
Precisely to ensure maximum savings in the declaration, TaxDown has developed its own algorithm, which crosses the tax data with the personal data of each taxpayer and this is how it detects all applicable regional and state deductions, which are not reflected, by default, in the draft offered by the Tax Agency. Thus, the platform improves the results of the initial Treasury draft by a high percentage.
This system allows users to file their return simply and quickly, 100% online and with the support and help of TaxDown’s tax advisors, who are available to resolve any incident that may arise, accompanying taxpayers throughout the whole process.
How is the income statement made with TaxDown?
As a Social Collaborator of the AEAT (Spanish Tax Administration Agency), when the user registers and enters their tax identification data (box 505, identification by Cl@ve PIN of the Treasury or the reference number), they access their information directly of the Tax Agency. Subsequently, you only have to confirm your data and answer between six and 15 simple questions about your tax situation, in order to apply all the possible deductions that correspond to you. A few seconds later, the platform will offer the result of the TaxDown calculation and that of its draft, so that the taxpayer can compare and present their income tax return at that very moment.
VIDEO: https://www.youtube.com/watch?v=PLvGNSZmQ1Y
Security, 100% guaranteed
The platform offers precision and security, with multiple detection systems to minimize the possibility of entering erroneous data. These alarms lead to a team of tax experts from TaxDown, reporting all those returns that deserve to be reviewed. In addition, the fact of being social collaborators of the Tax Agency means that the data is 100% encrypted and the experience is totally secure.
In addition to being able to make the declaration on the TaxDown website: https://taxdown.es/, the app is also available on both Android and iOS, offering the possibility of simulating the declaration for free, checking how much money could be saved. In the event that the user decides to file their tax return with TaxDown, the price varies from €35, with an expert review and doubts resolved in less than 48 hours, up to €75 for their Full Plan for those who prefer to forget about everything. and upload your documents to the platform so that a specialized advisor can handle the entire process.
Any taxpayer can make their tax return safely and reliably, without the need for any type of tax knowledge, ensuring maximum savings.
What’s New This Year: Freelancers and Cryptocurrency Investors
There are two novelties presented this year by the TaxDown application for its clients. In the first place, the company will allow all self-employed workers to file their income tax returns, thus facilitating tax procedures for the more than three million self-employed in our country.
And, on the other hand, TaxDown will facilitate this year the declaration of income to all investors who have bought or exchanged cryptocurrencies during the past year. And it is that more than four million Spaniards invest in cryptocurrencies: 41.4% think that they will not have to pay any type of tax for what they earn with their crypto assets, while 28.4% admit that they do not know. For this reason, it is convenient to be clear about how the operations that we have carried out in 2021 with cryptocurrencies or NFTs can affect us in the income statement, since more and more investors are choosing these financial assets.
It is a complex process in which the user will have to carry out a series of operations and take into account certain variables. For this reason, TaxDown has written a guide explaining step by step how to declare these digital currencies. In addition, the company makes it easier for us this year than ever, with a specific module to report investments in cryptos and foreign brokers automatically.
The income statement, in large numbers
According to data from TaxDown, 80% of taxpayers seek help when filing their income tax return as it is not a very intuitive process and, on some occasions, somewhat tedious with more than 1,000 boxes to check. In fact, around 900,000 returns are filed with errors each year, resulting in lost savings of more than 9,000 million euros.
And although the Renta WEB portal is the clear dominator when filing the return, more and more taxpayers opt for other options such as their own bank, tax advice or the help of friends and family.
A discount code for ABC readers
And to make the tax return filing process easier, TaxDown is offering an exclusive €5 discount code to ABC readers who file their returns by June 30. It’s the ABC5 code.
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