The natural persons who are in the Federal Taxpayer Registry (RFC) of the Tax Administration Service (SAT) have until April 30, 2024 to present the 2023 Annual Returnso it is advisable to know what mistakes to avoid when doing it.
Under this understanding, we will immediately tell you the 5 most common mistakes that individuals make when submitting the Annual Return before the Tax Administration Service (SAT):
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Not having an updated password or e-signature
One of the most frequent failures that occur when submitting the Annual Declaration is not having a password or an updated e-signature, since in order to make the Annual Declaration it is essential to have the signature and the electronic signature. current and updated. Therefore, it must be taken into account that, in the case of the password, if no activity is recorded for three consecutive years, it becomes void. For its part, the e.signature is valid for 4 years.
Have disorganized documents
Another of the most common failures when submitting the Annual Return is not having the necessary documents to complete it, which can lead to errors when filling out forms. In this sense, taxpayers must ensure, for this year, that the invoices are in the most recent version, and that they have the correct data.
Do not review the details of the declaration
On the other hand, another of the most frequent mistakes when submitting the Annual Declaration is, once the forms are completed, not checking that the data recorded is correct.
In this sense, the following data must be reviewed in the Annual Declaration:
*The amount of Income Tax (ISR).
*The recorded quantities.
*Basic information (name, RFC).
Not paying on time
On the other hand, another of the most common errors in the Annual Declaration before the SAT is submitting it outside the deadline determined by the tax agency of the Ministry of Finance and Public Credit (SHCP), since it may result in surcharges and fines. Thus, while natural persons have until April to present it, legal entities have until March.
Declare false information
Finally, although it is not an error as such, declaring false information in the Annual Declaration is a serious offense that the Tax Law punishes with harsh penalties.
In this sense, the SAT Tax Law establishes the following as tax frauds:
*Use of false documents.
*Omission to issue receipts for activities carried out.
*Declaration of non-existent tax losses.
* Manifestation of false data to compensate contributions.
Who must present it?
Likewise, it must be taken into account that not all natural persons are required to submit the Annual Declaration, as long as they are not in the following cases:
*Independent workers for fees.
*Those who have had annual income greater than 400 thousand pesos.
*Those who received income from two employers, regardless of whether or not they are greater than 400 thousand pesos.
*Those who have received income from settlement, workers' compensation, pension or retirement.
*Those who collect rent for a property.
*Those who have won a prize, such as the National Lottery (Lotenal).
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