Do you constantly lend your credit card? Damn, the SAT is on the lookout

Although today it is not so difficult to have access to a credit cardthe reality is that many people are afraid to use one of them and choose to borrow one.

Friends, family, your partner and even a neighbor can approach you to borrow your credit card. However, Do you know all the consequences of lending a credit card?

And in addition to being able to keep a debt that is not yours, you could obtain SAT sanctionssince you incur a fiscal discrepancy that would put you in the eye of the government system.

What is a tax discrepancy?

Eye! If the Tax Administration Service (SAT) notices that your income does not correspond to your expenses, you could fall into tax discrepancyand the tax authority will determine that you omitted some obligation as a taxpayer.

Article 91 of the Income Tax Law (ISR) establishes that the Individuals may be subject to a tax discrepancy if it is proven that the amount of their expenditures in the year is greater than the income they declared..

This includes expenses, acquisitions of goods, bank deposits, financial investments and credit cards. This lack is what the SAT calls a tax discrepancy, which could put you under the microscope.

If you are an account holder of BBVA, Banamex or another bank and the SAT detects that you have registered purchases that do not correspond to your declared income, they could investigate your banking transactions further.

For example, if your income is 15,000 pesos and you lent your card for purchases that exceed 30,000 pesos, this would be cause for an investigation.

Consequences of the tax discrepancy

What happens if you fall into a tax discrepancy? The SAT will notify about the discrepancies found, specifying the expenditures detected and the information used to identify them.. You will have 20 days to inform the SAT in writing about the origin and origin of the money used with the loaned card.

If the discrepancy is confirmed, taxed income will be presumed and the corresponding assessment will be applied. The Penalties for lending your credit card can be severe, equivalent to the ISR of the undeclared amount. Additionally, if a level of expenses is determined to be higher than your income, the SAT will increase the tax rate.