With the objective of identifying and punishing certain crimeslike the well-known money laundering, the Mexican authorities have implemented different tools and filters in the buying and selling of products and servicesas well as in other areas.
Under this understanding, it is normal that many people in Mexican territory have doubts about How much maximum cash can they spend when participating in gambling games or raffles?like the National Lottery (Lotenal), and we will clarify this question shortly.
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It is in this way that if you do not want to have problems with the Tax Administration Service (SAT), when you go to buy tickets for raffles, such as Lotenal, people can spend a maximum of 3,210 UMA.
At this point, it will be necessary to clarify, the UMA is, in short, the Unit of Measurement and Update that is used as an economic reference in pesos to determine the amount of payment of the obligations and assumptions provided for in federal laws, of the entities federations, as well as in the legal provisions that emanate from all of the above. The value of this varies year by year.
Thus, taking into account the value that the UMA has this 2024, according to the official website of the National Institute of Statistics and Geography (INEGI), are 348 thousand 509.70 pesos with which you can pay in cash when purchasing Lotenal tickets.
In this sense, it is worth noting that this same value established by the tax authorities applies to the purchase of the following products and services:
*Buying and selling watches; jeweler’s; precious metals and precious stones, either by piece or by lot and works of art.
*Shielding services.
*Purchase and sale of shares or social shares.
*Leasing of properties and vehicles.
*Purchase and sale of vehicles, new or used, whether air, sea or land.
The limits of use of cash in Mexico for buying and selling are established in the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin.
“The Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin establishes in certain acts or operations the restriction of liquidating or paying, as well as accepting the liquidation or payment of acts or operations through the use of coins and banknotes in national currency or any other currency and Precious Metals”, it is stated on the official website of the Mexican federal government.
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