The SAT is attentive to you that you comply with your tax obligations in a due and timely manner. You must be careful so that you avoid making mistakes when filing your returns, monthly and yearly.
The SAT publishes a list of the most common mistakes taxpayers make. You can check them so that you are alert and do not commit them.
When submitting your income tax return, avoid paying after the deadline without adding the amount corresponding to the surcharges or the update. Photo: Reformation.
1. Pay after the deadline without adding the amount corresponding to the surcharges or the upgrade.
To calculate the update, multiply what you owe by the update factor that corresponds to the default period. This factor is calculated by dividing the National Consumer Price Index (INPC) of the month prior to the month in which you will make your payment by the INPC of the month prior to which you had to pay.The resulting figure is your update factor and is multiplied by the amount that debts. In this way, the effect of inflation is covered, along with the debt.
2. Failure to make your monthly income tax (ISR) declarations for working for fees; that is, for legal entities that withhold the tax. That tax withheld is not enough for you to consider that you fulfilled your obligation. You must file monthly income tax returns in which you deduct the tax that was deducted, if when calculating it does not result in an amount to be paid, you will present your return in zeros, if it continues giving zeros, the calculation will stop filing the returns.
3. Skip payments or submit statements in installments that do not correspond. Monthly payments to the SAT are made no later than the 17th day of the month after you pay, and the annual return in April. If you do not meet these deadlines, the SAT will call you and it is very likely that they will charge you a fine.
4. Deduct expenses such as groceries and telephone that actually correspond to your home. You can only deduct expenses related to your work activity in your statement; that is, your business or company, not the ones you do for your home
5. Deduct medical, dental, hospital, funeral or donation fees from your monthly statements. These expenses can be deducted by individuals but in their annual return, not in the monthly ones.
6. Deduct expenses without having invoices, fee receipts or other proof, or else claim to deduct it with the purchase note.
If you present proof of payment, the deduction must be the one required by the SAT: invoice, receipt of fees or lease. They will not be able to make deductions if you present notes or referrals, they may even impose penalties and charge you for unpaid taxes, with updates and surcharges.
7. Deduct expenses with vouchers issued in the name of another person. The invoice, fee or lease receipt must be made in your name, they will not be deducted if you present them in someone else’s name.
More information in our Tips Section.