This is what matters least to the SAT about bank TRANSFERS

Physical money seems destined to disappear at some point in human history. No, we probably won't see it, but almost all of us have already made a bank transfer for different concepts.

Be careful with these money movements if you do not want to attract the attention of the Tax Service (SAT), that closely monitor what you write with AI every time you use your bank's app to receive or send money.

Today you We will talk about what matters least to the SAT about bank transferswith information courtesy of tax specialist and founder of Consultora Fiscal Pamela Castro.

In interview for The Broken Chairthe professional explained that at tax collector doesn't care if you send money or notnor the concept you use, what is in your area of ​​attention is that the quantities are congruent with reality.

Yes, it is important to learn to use correct concepts when transferring, but remember that it will matter little if you are trying to evade taxes or if you carry out any other type of activity that the SAT pursues.

“Because if those transfers that they are receiving are for the concept of the sale of a good or service, it does not matter whether you put a donation, food, loans or any other concept because the activity of origin does cause tax and if those transfers are for some reason listed in article 93 of the Income Tax Law, which talks about the income that you are not obliged to pay taxes, you must still have documentary evidence to prove it,” he said according to the article from the cited media.

The worst term to use as a concept

Tax Administration Service (SAT) has put the use of the term 'donation' under scrutiny, pointing out it as a potential risk for avoiding taxes.

The need to specify the concept in bank transfers is a well-known requirement, and the previous one could be improperly used as scheme to evade taxescontravening current tax laws.

From a legal point of view, although the use of the concept 'donation' is not prohibited, it must comply with specific conditions.

Section 23 of article 93 of the Income Tax Law clearly establishes that transfers between spouses or descendants can be considered donations, as long as they do not exceed 100 thousand pesos annually.

The SAT highlights the prevailing need to demonstrate the legality of the donations mentioned in bank transfers, since the lack of justification could be interpreted as tax evasion.

This scenario would grant the SAT the power to initiate investigations and take legal measures, with possible financial sanctions and criminal consequences.

So which ones do I use?

Given this panorama, the crucial question arises: how to make transfers without falling into the tax risk associated with the term 'donation'?

The SAT offers a clear recommendation: Instead of using 'donation', suggest using specific terms that accurately reflect the nature of the transactionsuch as payment for goods or services, loans, investments, among others.

I am Juan Pablo Chaidez Aispuro, a graduate in journalism from the UAS who life led me to specialize in content creation to generate traffic on different channels. Since I was a child I liked the news and being informed; today, I consider myself more of a publicist. I gained some experience in the Noroeste sports area and as a radio reporter at Informativo Puro Sinaloa. In 2020 I joined the ranks of DEBATE, months later I became a Web Editor at Debate.com.mx. I am a learner and passionate about music, I am also fascinated by photography, travel, gastronomy, technology, astronomy, multiplatform content creation and helping whoever possible with my work. I always have my sights set on the highest, but family and real friends come first.

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