Just because you’re going on vacation doesn’t mean you have to forget about taxes. A significant number of taxpayers still have to inform the tax authorities about their finances… at the risk, otherwise, of exposing themselves to potential complications. And for good reason ! As Capital reminds us on its site, all those who have not yet paid enough tax using the withholding tax must now re-specify their banking information to the Directorate General of Public Finances. Without these, the planned withdrawals from the account of the individuals concerned may not take place.
In most cases, this type of situation can be explained quite simply: it often results from a withholding tax rate that is too low and which has not been updated during the tax year. It is also possible to have benefited from a credit advance or an excessive reduction at the beginning of the year, calculated in relation to the expenses of the past year. In either case, the amount to be paid is directly debited from the bank account as of September 26, 2022. If it does not exceed 300 euros, it is recovered in one go. Otherwise, the DGFiP provides four different deadlines for recovering all of them.
The French men and women concerned will therefore be able to modify their bank information until September 13.
Other taxpayers, less unlucky, are faced with a refund. When the tax paid exceeds what should be withheld, the tax administration returns the overpayment. This is often the case when the withholding tax rate was too high.
To benefit from the reimbursement, you must proceed quickly and fill in your bank details quickly, ideally before leaving on vacation. The transfer being executed from July 21, the tax authorities require it to have been made from July 1 of the current year.