The Social Security has confirmed that this year's Income Tax campaign will offer a significant advantage for numerous retirees and pensioners in the archipelago. Those whose income does not exceed certain thresholds will be exempt from the obligation to file the declaration.

Hacienda's regulations are clear: pensioners are subject to the same tax rules as other taxpayers. The obligation to declare depends directly on the income level and the number of payers. Generally, those who exceed the following limits must file their Income Tax Return:

For a single payer, there is no obligation to declare if gross annual income is equal to or less than 22,000 euros. In this scenario, the INSS is considered a single payer. However, if there are two or more payers, the limit is reduced to 15,876 euros gross annually, provided that the amount received from the second payer and subsequent ones exceeds 1,500 euros per year. If this amount is not reached, the limit for not declaring remains at 22,000 euros.

The Social Security considers any additional source of income as a second payer, such as pensions from abroad, private pension plan redemptions, or compensatory pensions from a spouse. These incomes are added to the calculation of the limits, so caution is crucial.

There are certain pensions that are exempt from IRPF, meaning they are not included in the declaration and, in many cases, do not require filing if they are the sole source of income. According to the criteria of the Tax Agency, these include Absolute Permanent Disability and Severe Disability, orphan's pensions, pensions for family members under 22 years of age, benefits derived from acts of terrorism, and pensions for individuals injured during the Civil War.

The reason for these exemptions is that Hacienda distinguishes between ordinary income and that which has an indemnifying or social protection nature, considering them compensation for serious situations. Furthermore, Non-Contributory Pensions generally do not pay taxes due to their low amounts, although their beneficiaries must submit an annual income declaration to the Social Security. Experts advise always reviewing the Income Tax draft, as even without an obligation to declare, if retentions were applied in error, filing could result in a refund.

The tax system also includes a protective shield for families through the personal and family minimum, an amount of money that Hacienda considers essential for living and is therefore tax-free. The general minimum is 5,500 euros annually. For those over 65 years, it rises to 6,700 euros, and for those over 75 years, to 8,100 euros, recognizing the increased expenses associated with age.