Overpayment of tax is a common situation, especially if there is a change of job, or if the company or the employee miscalculates contributions. The correct refund process ensures that the money is received on time.
Repayment process
Tax refunds can be obtained by submitting your annual tax return via the VMI’s Electronic Declaration System (EDS). The system automatically calculates the overpayment and indicates the amount to be refunded.
When is the overpayment received?
Once a declaration has been submitted, the overpayment is usually repaid within a few weeks. During peak periods, when there are many returns, it may take longer, but still within the legal deadlines.
What is important to declare to get a tax refund?
It is important to get it right:
- income
- NPD and other benefits
- bank account number
This ensures that the overpayment is repaid quickly and without error.
Conclusion:
Repayment recovery is a straightforward procedure, as long as procedures are followed and all the necessary information is accurately provided. This can significantly improve the annual budget.
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