Is it mandatory to declare loans on the SAT?

Declaring before the Tax Administration System (SAT) a transfer of money, a loan or a donation will avoid any problem of admissions that cannot be verified. This has been more strict on the part of the dependence since 2021.

The Federation Fiscal Code establishes that contributors must specify amounts, deposit accounts, payment method and transfer report in order to clarify transfers. While the SAT is a good way to save money without owing to formal institutions, you have to be very careful. Read on to the end to discover everything!

When should I declare the SAT?

Fraction XI of article 18 of the Law of Enforcement About the Rent says that it is considered an accumulative entrance of the moral persons, the amount of the amounts received in cash.

On a national or foreign currency basis, by concept of loans, contributions for future capital increases or capital increases greater than $600,000.00, always and when the obligation to declare this to the tax authorities is not fulfilled.

Through the mediums and formats that for this purpose, the Tax Administration Service is signed through rules of a general nature, within quince days after the date in which the corresponding amounts are received.

How can I declare a benefit of an acquaintance?

There is a time limit to be able to declare a loan before the SAT and it must be 15 days after receiving the deposit. The information must be presented on the SAT page with the data of the transfer and those who did it.

What do I do when I declare a donation of money?

The SAT considers the unreported entrance fees as “accumulative omitted” which will later have to pay ISR.

Falling in a fiscal discrepancy before the SAT will oblige the taxpayer to justify admissions, and in this case the dependency could investigate and ask that the person presents accounts, labor information, as well as other sources of admissions that it detects.

Prizes, donations and payments greater than 600,000 pesos have the obligation to present the corresponding information to the SAT by means of the 86-A form.

It is only mandatory that you report it to the tax authorities if you receive funds in excess of 600,000 pesos for loans, donations, prizes, inheritances and prizes, for each concept referred to in its set, according to SAT information.

For example, if you requested a loan for 400,000 pesos and also received a donation for 300,000 pesos, you must declare it because the sum of both exceeds the amount established.

The exhibition of these tickets must be made in your annual declaration, not through the monthly or provisional.

Advice so that you never stop doing it in your Annual Declaration

There is no better way to avoid all the problems above than presenting the declaration in time and form. For this we present you the following advice:

• Before the end of the year, organize your invoices;

• If you didn't ask for an invoice, there are 30 days to request the CFDI of the month;

• Search for expenses that are deductible (remember that they are subject to deduction when they are paid by transfer of the credit or debit card);

• If you don't have much experience, look for the support of an accountant;

• When you are due to present the declaration is available and the hand of the evidence of perceptions and retentions, the receipts of fees, the Annual Declarations without goodbye and the electronic invoices of your activities;

• Always declare all your tickets;

• Always have in mind the closings when the annual declarations are made and what you must review in your tax declarations.