Annual ISR declaration in charge or in favor?

I NTRODUCTION: When complying (or opting), with the obligation of Annual Income Tax Declaration (ISR) in the Physical persons There are two scenarios: 1. Tax payable – This results from accumulating income from 2 or more chapters. Ex. Salaries with Income 2. Tax in favor – Normally it results if the individual has personal deductions. E.g. Payment of School Tuition and or Medical Expenses

1. TAX CHARGE To pay without surcharges you have until April 30, with the option to pay in a single payment or in up to 6 installments. Requirements: Submit annual report in a timely manner, select this option when submitting the return. Subsequent payments must be made month by month.

2. TAX IN FAVOR You can leave the balance to offset future ISR charges or request a refund. The following is reported on the SAT portal:

Suggestion.- It is advisable to have the support of a tax advisor to analyze options and comply with the applicable tax provisions.

FRANCISCO GÁMEZ PONCE [email protected] TAXES IN SPANISH

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Francisco Gámez Ponce is a Certified Public Accountant and Master in Taxes. He is Former President of the College of Public Accountants of Northern Sinaloa, AC, he is a financial and tax advisor to companies in various cities in the country, he has taught tax and business courses before different business organizations and he is Managing Partner of the Firm Gámez Leyva y Asociados. S.C.

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