Part of becoming an adult is starting to give accounts to the Tax Administration Service (SAT), hence it is essential that taxpayers know what their obligations are and, with this, make sure they comply with tax provisions. In this sense, we will tell you what the tax collection that the tax agency warned banks, such as BBVA and Banamexwhich they must do to clients when making certain deposits.
As we mentioned at the beginning, part of becoming an adult in Mexico is complying with the Fiscal obligations determined by the Tax Administration Service (SAT).
In this context, the body dependent on the Ministry of Finance and Public Credit (SHCP) warned customers who have a card from BBVA, Banamex and other financial institutions that operate in the Mexican Republic for the collection of a tax when they exceed the limit of the established amount.
Thus, on its official web portal, the SAT establishes which cash deposits are made with national or foreign currency, to any type of account that natural or legal persons who have their name on the Institutions of the Financial Systemsuch as BBVA, Banamex and other banks in Mexico, are applicable to pay a tax when a certain limit is exceeded.
It is in this way that the tax agency has alerted the account holders of financial institutions of the Tax on Cash Deposits (IDE)the same as applies only to those made in cash and not to electronic transfers, SPEI and other means of payment.
This means that financial transactions carried out through electronic means are not subject to the Tax on Cash Deposits (IDE).
Taking the above into account, it should be borne in mind that This tax is applied when they are made with physical national currency and the deposits exceed the limit of 15 thousand pesos in a month.
In this sense, the IDE is charged to the Tax Administration Service to the taxpayer for the total amount of all the deposits made to the bank accounts of which they are the holder in the same financial institution, such as Banamex banks, BBVA, brokerage houses, companies investment and other banks.
The purpose of this tax is promote bank access and, at the same time, combat tax evasionsince cash deposits, in general, tend to be much more complex to track and control by the authorities in the matter.
Finally, it must be said that the taxpayers who are exempt from paying the IDE are the following: the Federation, the federal entities and the municipalities and parastatals that are considered as non-taxpayers of the Income Tax (ISR), as well as legal entities with non-profit purposes, financial institutions in relation to money deposits in cash carried out in their own accounts as part of financial intermediation or for foreign currency purchase and sale operations.
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