Fiscal discrepancy


A tax discrepancy occurs when a public collecting entity receives a different amount of a certain tax to which an individual or organization declares.

A tax discrepancy appears in situations of inaccuracy or difference of tax data. In a certain tax or fiscal period, people and companies of all conditions or nature declare taxes based on their economic activity.

These tax amounts must be endorsed by the corresponding official or public bodies, which give validity to said declarations or, on the contrary, notify discrepancies according to various criteria.

Most of the discrepancies related to the tax area have to do with aspects such as the tax deduction due to criteria such as the purchase and rental of a home, investments made in the period, characteristics of the family nucleus or established tax residence.

Similarly, often cases such as making donations, giving financial awards or working with foundations and NGOs are the target of a thorough public study in search of possible tax anomalies.

In most cases, discrepancies or possible tax avoidance have to do with the irregular or unprofessional presentation of data. For this reason, it is recommended by institutions to turn to tax professionals or advisers when filing different taxes.

Tools related to tax discrepancy

To avoid this type of discrepancy in tax matters, it is common for collection agencies to establish periodic mechanisms that regulate taxation.

This is the case, for example, with personal income tax in the Spanish case, where the public treasury makes monthly withholdings on income from income belonging to individuals.

At the end of the fiscal year, it is analyzed whether the total amount required corresponds to the correct amount to be withheld for the entire year, in order to claim or return excess amounts as the case may be.

Another case is the precise and catrastal valuation of real estate to avoid problems in taxes related to its possession. In this way, public instruments such as the official cadastre serve to control this type of assets and avoid anomalous declarations of assets.

The same would happen with portfolios of securities and financial instruments that a natural or legal person may have and that, as it is regulated, must be included in their tax returns in a reliable way.

Common consequences of tax discrepancy

After the detailed analysis of the Treasury of each tax carried out, all taxpayers have the possibility of supplementing their declarations by way of justification of what is indicated or to add new required information.

Its validity or not will depend on the criteria established by the tax law of each territory, which will validate or sanction said data within a previously stipulated period of time.

Usually the appearance of a case of discrepancy between the collector and the taxpayer usually comes from the hand of an economic or legal sanction.

Every collecting institution has the capacity and the obligation to carry out in-depth studies on its taxpayers and the economic information that they provide regularly, in order to validate them and declare them as due or improper.

In this sense, economic crimes are largely led by cases of fraudulent income or property declarations, tax evasion and even the lifting of material goods.

This type of sanction has to do in a proportional way with the offense committed. In most cases of medium and low amounts, the solution is the supplementary declaration of said tax, sometimes adding interest, if so established by the Administration.

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