Hi there 👋
If you have made mistakes in your tax return or have forgotten to file this year or in previous years, then this article is for you.
In any case, correcting your tax return on your own initiative allows you to show your good faith and avoid surcharges in case of a tax audit.
💡 Here are the solutions:
Case 1: Correction on the current fiscal year
You reported in 2022 for the 2021 tax year but forgot to report an account/taxable transactions/gains or losses or omitted some items.
Correction phase:
Firstly, you should know that you can modify your declaration on your online space during the whole period of opening of the declaration, i.e. until June 30, 2022. To do so, go to your personal space and click on "Access to the online declaration" and then "Correct". (Warning: the correction only works via a computer).
After June 30, 2022, it will no longer be possible to correct your return before receiving your tax notice.
Rectification phase:
At the end of July/beginning of August, you will receive your tax notice. The items on your tax notice can be corrected via your online tax return space by filing an amending return.
Here are the opening dates of the rectifying returns for the year 2022 (2021 income):
Beginning of August → until mid-December 2022.
💡 Good to know: A corrected return will bear late interest (divided by two if the correction comes from you - see below for rates). If it is the administration that realizes the error, the normal late payment interest rate will apply in addition to a tax increase.
You did not file a tax return by June 8, 2022.
If you didn't file your tax return in time, then you must file a late return.
Late filing leads to the payment of late interest (0.20% per month, deducted from July 1 of the year following the year in which the income is received - July 1, 2022, for 2021 income - until the last day of the month in which the return is filed) as well as a surcharge equal to 10% of the tax due in case of late filing spontaneously or within 30 days of receiving a formal notice to declare your income.
Case 2: Previous years
You have failed to declare the opening of a digital asset account (form 3916-bis) / taxable transactions (form 2086) several actions are to be taken:
Contact the tax authorities directly via your online space or by mail and report your oversight;
Specify in your report: the date the account was opened, the name and address of the account manager and your account number or email address attached.
If it is about an omission of taxable operations and capital gains: Waltio provides you with the tax documents of the previous years, it will be advisable to transmit them to the administration for a possible regularization.
Be sure to report these accounts/transactions in future years.
💡 Good to know: Digital asset accounts held, opened, closed or used abroad must be declared every year, even if you have already declared these same accounts the previous year. The following year of the declaration it will simply be necessary to validate that the account is still open, otherwise you will need to fill in the closing date.
If you have any other questions, do not hesitate to contact us via the chat just at the bottom right of your screen! 💬
The Waltio team