What if my tax reduction is bigger than the amount I have to pay in personal income taxes? Do I get a refund?
No. Your amount of personal income taxes may be reduced to €0, but you will not get a refund. The tax reduction is only applicable on the amount of income tax due.
For example, if you pay €10,000 in personal income tax, the maximum amount of reduction you may receive under the tax shelter mechanism will be €10,000.
Note that if your personal income taxes have been automatically withheld from your salary, as is the case for everyone working as an employee, you will get an actual refund for the amount you are owed under the tax shelter.