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Guide to timely filing the 2020 annual return with everything and coronavirus

2020-04-06T21:42:29.757Z


So far, no additional term has been declared for natural persons. We show you three online tools so you can meet your tax obligations.


The arrival of April means that the annual declaration of natural persons must be filed with the Mexican Tax Administration Service (SAT). According to data from the tax authority, 5.5 million Mexicans fulfilled this obligation in 2019, of which, more than 80% received a balance in favor, that is, they received money from the treasury for correctly making their personal deductions . In 2020, in just one day, more than 908,000 declarations were received. "The most important thing is to present it on time," says Ana Ramírez, founding partner of the fiscal firm Sarez Contadores, to Verne . The deadline to comply with this procedure is April 30, and it is best to do it before this date so as not to be subject to a fine.

Thanks for your GRANITE OF SAND!

More than 900 thousand statements in a single day. Record figure! Keep going so!
Your contribution will go, among others, to the purchase of supplies and the hiring of medical personnel. # MéxicoUnido pic.twitter.com/V1xw19GGXT

- SATMX (@SATMX) April 3, 2020

However, the page to present the annual declaration has registered various problems that have been reported by dozens of users on social networks during the first days of April. "There can generally be some flaws like common invoice errors with the RFC, but currently the page to file the annual return is running very slowly," says Ramírez.

In the midst of the pandemic due to the new Covid-19 coronavirus, the Government of Mexico has not reported any extension or extension of time to deliver the annual declaration, since it can be submitted online.

Who is required to make the annual declaration in April?

1. Workers who received income from wages and who obtained income from two or more employers.

2. Those who received annual income exceeding 400 thousand pesos.

3. People who have obtained income from the sale of goods, that is, who have sold some property (house, apartment, land or business premises). Consult the complete list in the Tax Administration Service.

What tools can I use to make my statement?

The SAT makes three online tools available to individuals to facilitate the capture of their income and deductions. "Before submitting it, it is advisable to use these pages to be able to make the appropriate corrections on time with your accountant or with employers who are reporting your income," says Ramírez.

1. Payroll viewer. For salaried workers, it generates a summary of all income via payroll, identifying how much corresponds to taxable income (for which Income Tax or ISR is withheld), as well as non-taxable income (that is, they are tax exempt ). You can check it in the following league.

2. Personal deductions viewer . It allows you to know all the concepts that can be considered personal deductions (such as medical expenses and tuition), as well as the concepts that have not been located within any of the types of personal deductions (telephone and service bills that you have paid in 2019, for example). You can check the viewer at this link.

3. Annual declaration simulator. This is a new tool available since March this year and is recommended for filing the 2019 return. "Almost all of the income vouchers and invoices that were issued last year are already preloaded on the SAT page," says Ramírez. “It is likely that the page will not load them if the company that pays you is making changes. It is normal, the important thing is not to be afraid and then ask if they are already available ”, says the accountant. With this simulator you can check that all your deductible expenses are charged, as well as detect those that do not correspond. You can enter the simulator by following this link.

# DA2019

Get ready for your Annual Declaration of # Physical People!

1️⃣ Enter the Simulator.
2️⃣ Find the information that will integrate your statement.
3️⃣ Know your balance in approximate favor.

👉 https://t.co/1f8ZpWT0TJ pic.twitter.com/ivyswLxBv1

- SATMX (@SATMX) March 9, 2020

What is new for this statement?

This year, the limit regarding deductions is 15% of your total income or 5 Unit of Measure and Update (UMA) per year, that is to say 158,469 pesos. "What is less is the limit of personal deductions," says Ramírez. It is likely that to carry out the automatic return process the page will request your electronic signature. If you do not have it to generate it automatically, you can request it at this link after filing your annual return.

What if I need to make an appointment at the SAT and I cannot do it due to the coronavirus contingency?

"The elderly or pensioners who receive their income from two sources are required to file their annual return, but they are also a high-risk population in the face of the pandemic," says Ramírez. If a person requires to go to a SAT office, but it is not possible, the Taxpayer Defense Attorney's Office (Prodecon) makes two remote routes available to users for guidance. By email: atencionalcontribuent@prodecon.gob.mx, by phone: 12 05 90 00 in Mexico City and 800 611 0190 toll free in other States of the country, and also in the online chat of this defense attorney.

What recommendations are there to file the statement despite the flaws on the SAT page?

Ramírez gives Verne some advice to present this tax obligation on time.

1. Entering the annual declaration page does not mean that you have to send it at that time. "You can do a test exercise to calculate the amount, talk to an accountant, check if what you paid in December could be billed in January and get all the necessary files," he says.

2. Try to enter the page in the afternoon. "In the morning many people want to enter to make the statement and saturate the page," he says. "The best thing is to do it after two in the afternoon and if it is not possible, try it at other times," says the accountant.

3. Have your electronic signature and passwords handy on the computer you will use. Ramírez advises having a folder with all the access codes and the electronic signature from the desktop. "This way you can quickly enter and file the return in one go," says the tax expert.

4. Do you have doubts? File a supplemental statement. This can be done after April 30 to send files that are not available at the moment. “The important thing is to comply on time before the end of the month to avoid fines. It can be done later with calm ”, ends Ramírez.

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Source: elparis

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