The term for companies or legal entities to submit their 2022 Annual Tax Return is about to end, so the period for individuals begins on April 4.
Ernesto Montes Méndez, president of the Mexican College of Public Accountants in Ciudad Juárez, advised taxpayers not to leave this procedure to the last, since the sooner they do it, the faster the tax refund will be.
“Usually the authority is accustomed to the fact that if the declaration is presented the first 10 days of the month of April, the returns are immediate in the account that was registered, after the 15th the systems are saturated and the returns will take time. ”, he expressed.
Continue simulator available
Until next March 31, the Tax Administration Service (SAT) declaration simulator will be available so that taxpayers know the estimate of the balance in favor that could be returned to them, in addition to knowing the updates in the tool and validating the information.
“This is just a simulator, it’s not really the platform,” the expert stressed.
Individuals have one month to pay the taxes corresponding to Fiscal Year 2022, since the term ends on May 2.
According to the SAT, the Annual Declaration must include income information, authorized and personal deductions, withholdings and provisional payments. To carry out the procedure, an electronic signature and SAT ID password are required.
When making the Annual Declaration, the taxpayer has the opportunity to report expenses for tax deduction and generate a favorable balance to pay less taxes, or meet certain requirements to obtain a tax refund and thus receive some money .
