Tax authorities have already ordered the payment of 610 million in IRS refunds

The Tax and Customs Authority (TA) has so far processed 628,432 refunds amounting to 610 million euros, according to data published today by the Ministry of Finance.

“628,432 refunds (amounting to 610 million euros) have been processed out of a total of 731,244 declarations entitled to reimbursement as a result of 1.2 million declarations already settled (that is, a payment order has been issued”), says the note sent by the Ministry under the supervision of Mário Centeno.

The data indicates that the average value of refunds processed under this year’s IRS campaign (for income earned in 2019) is around 971 euros.

The IRS annual return filing began on April 1 and since then the Finance Portal has recorded the filing of 3,265,742 returns. Last year, 5,831,280 returns were filed.

In 2019, the total amount of IRS refunds amounted to 3,003.1 million euros, as indicated by the budget execution summary of the General Directorate of Budgets. In 2018, the amount returned to taxpayers had been 2,626.4 million euros.

This year, the overall value of the tax that the State must return to taxpayers may decrease due to the fact that the withholding tables in effect in 2019 have been adjusted to reflect part of the five to seven increase in income levels. from the IRS.

The IRS annual statement on the income obtained in 2019 began to be delivered on April 1 and ends on June 30, with the State until August 31 as the limit to proceed with the payment of the reimbursements of the people who submitted the statement to weather .