Everything you need to know

April
7, 2021

5 min learn

April begins and with the fourth month of the 12 months comes the ultimate interval to current the annual return for people set by the Tax Administration Service (SAT)!

We all know that submitting your annual return will be very complicated, which is why Bontu specialists give you some suggestions. What’s the annual declaration?

It’s the fiscal 12 months that’s used to report back to the SAT all our annual earnings and bills exercise, in order that we are able to calculate how a lot we should pay in taxes. For instance, for this 12 months, we should report back to the SAT every thing that was entered and spent in 2020.

Variations between pure individual and authorized individual?

For the SAT, there are two kinds of taxpayers: Bodily individuals and Ethical individuals. People will be anybody who’s of authorized age, of any intercourse, and of any nationality, who has a marital standing and is able to producing rights and obligations, individualized by a correct title. As a Ethical individual, it’s a group of two or extra pure individuals who set up a kind of firm, a enterprise title, and that the regulation offers them authorized capability to have rights and obligations.

How do I do know during which tax regime I’m registered?

On the SAT web page it is possible for you to to seek the advice of the several types of tax regimes for people, however the commonest are the regimes of Salaries and Salaries and Worker Assimilated Earnings, Enterprise and Skilled Actions and the Tax Incorporation Regime.

What are the necessities to make your annual declaration?

In case you are a pure individual and have one among these traits, it’s essential to submit your annual return:

• You probably have multiple job, that’s, when you contribute with two or extra employers or have two or extra earnings.
• Should you present skilled companies by the charge scheme.
• In case you are the proprietor of a property and also you cost hire for it.
• For finishing up enterprise actions (industrial, industrial, agricultural, livestock, forestry, fishing, and motor transport).
• By alienation of property, that’s, when you transferred property from one property to a different by a authorized act (buy - sale).
• For the acquisition of products. If the sum of your wage (s) is larger than $ 400 thousand pesos per 12 months (or with further earnings to a single employer).
• You probably have investments overseas and also you earned curiosity for it.

You shouldn’t overlook that when making your annual return, it’s essential to current all of the earnings you obtained, (don’t forget to incorporate all of the digital invoices or CFDI that you simply issued with your enterprise title), private deductions, which embrace well being, schooling, funeral bills, Amongst others, (if you wish to know the entire listing, click on on this hyperlink ), provisional funds (that’s, your month-to-month statements relying on the regime during which you might be the place earnings tax and VAT are declared) and withholdings (that are discuss with the quantities that should be discounted, for the idea of earnings tax

^{You shouldn’t overlook private deductions, which embrace well being, schooling, funeral bills, amongst others / Picture: Depositphotos.com}

What paperwork do I must make my annual declaration?

Along with the paperwork talked about within the earlier level, you may make your annual assertion on-line on the microsite enabled by the SAT or make an appointment in individual, however you must have in mind that as a consequence of COVID-19 and the saturation of appointments it’s attainable that this not choice. Don’t forget to all the time have your e. Signature, your password and your RFC at hand, in addition to a checking account with its respective CLABE (in case of being a creditor of a tax refund and this can be made no later than July 31, 2021) since these parts are important to make the annual declaration.

Keep in mind that, if you’re a pure individual, you will have till April 30 to make your assertion on the portal or in individual. Should you do it on-line, the system is pleasant and guides you step-by-step by offering the information that we beforehand described. You probably have any questions, we advocate you strategy an accounting agency for recommendation in your return. Keep in mind that if you don’t submit your annual return, the SAT will impose a superb that may vary from 1,400 to 17,370 pesos for every of the undeclared obligations.