SAT: What problems could I have if I do not file my 2023 annual return?
Like every year, the Service tax administration (SAT) has summoned taxpayers to present their Annual statement, which is presented during the month of April. Here we tell you what are the consequences of not doing it
Taxpayers can receive subsidies for which taxes would be returned to them at the time of presenting the Annual Declaration corresponding to the expenses made during the past year.
The accountant Guillermo Mendieta, a member of the Fiscal Audit Commission of the College of Public Accountants of Mexico (CCPM), explains everything related to the subject and the doubts it generates in terms of fines and surcharges that can be generated in case of not presenting it on time. .
Remember that there are expenses that can be deducted in the Annual Declaration, which are linked to education and hospital expenses.
You can obtain a credit balance that cannot exceed five annual Measurement and Update Units (UMA) or 15% of your total income, including exempt income, whichever is lower.
What happens if I don’t pay taxes to the SAT, can I go to jail?
Failure to comply with your tax obligations generates fines, surcharges, audits and, in extreme cases, even prison terms.
Those who must present it are individuals and companies, that is, natural persons who have until the last day of April.
- All people who are registered in the Professional Services Regime, obtain income on their own and issue fee receipts.
- Those who have business activities, included in the Fiscal Incorporation Regime and opted to make provisional payments.
- People who receive income from the rental of some real estate, house, apartment, commercial premises.
- Those who have sold or bought any real estate.
- Individuals who received salary income and who stopped working before December 31, 2018, as well as those who obtained income from one or more employers.
- Those people who have received annual income of more than 400 thousand pesos obtained abroad.
- As well as people who have earned income from activities related to agriculture, livestock, fishing and forestry.
- Those who have received income from retirement or compensation.
It may interest you: SAT 2023: Learn about the new requirement to present your annual declaration
How long does the SAT take to make a refund?
If you have already completed your annual declaration satisfactorily, there is the possibility that your balance in favor will be deposited in an average of four days; however, the natural period of return of the same consists of 40 days.
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