One of the greatest obligations that all people who are in the world have Federal Taxpayer Registry (RFC) of the Tax Administration Service (SAT) is to carry out the Annual statement.
Under this understanding, it should be taken into consideration that, according to current tax laws, Legal entities, that is, companies, have until April 1, 2024 to present their Annual Declaration corresponding to the fiscal year of 2023.
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For its part, in the case of the natural persons, that is, any citizen who has income in the Mexican national territory, the maximum date to submit their 2023 Annual Declaration to the tax agency of the Ministry of Finance and Public Credit (SHCP) is April 30 of this year.
It should be taken into account that, in addition to the fact that it is an obligation to present the Annual Declaration to the Tax Administration Service (SAT), if not done so, natural and legal persons may be liable to fines.
In this sense, the fines for not submitting the Annual Declaration for fiscal year 2023 to the SAT range from 1,200 pesos to 12,000 pesos, depending on the omission committed and the type of taxpayer.
Errors when submitting the Annual Declaration
Finally, we leave you a list of the most common errors that are made when submitting the Annual Return and that you should avoid:
*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.
*Having disorganized documents:
Another of the most common errors 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:
For its part, 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
For its part, 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.
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