The annual tax return It is a fiscal obligation for taxpayers in Mexico, in which we report our income obtained during the previous year before the SAT, in order to pay the annual amount that corresponds to Income Tax.
Taxes! This word worries many people who, not knowing the process to declare them, tend to be predisposed to this type of procedure. That is why in this article, I will tell you everything you need to know about the annual tax returnWho should submit it? when is the annual declaration 2022 and the best: how to achieve it step by step!
So, relax and make a note to check if you have the necessary documentation to carry out this process —as well as who to go to if you are missing something— and consult our tips so that you know how to make the annual declaration 2022 In a simple way. Ahead!
What is the annual tax return?
The easiest way to understand what is the annual tax return It is like the document with which you report to a tax agency —in the case of Mexico, the— your income, deductions and withholdings, in order to declare in a timely manner the one applicable to a fiscal year.
In other words, This is the procedure that tells the Treasury how much money you received for your work or business activities and what percentage of that amount corresponds to contributing to tax collectionin addition to how much will be returned or credited to you.
This tax burden is mandatory, as part of the responsibilities of taxpayers in Mexico —with some exceptions— and is legally supported by our Constitution, which says that an obligation of Mexicans is:
Contribute to public expenses, both of the Federation, as well as of the States, of Mexico City and of the Municipality in which they reside, in the proportional and equitable manner provided by law.
More specifically, the mechanism for collection, documentation and exemptions are contemplated within the , which I will use to impress you, but mainly as a reference throughout this article. 😀
Who files annual tax return?
The annual tax declaration is an obligation that must be carried out, both by individuals and legal entities.in order to report your income and tax situation for a specific year.
Although it is a mandatory process for all taxpayers, the law establishes who within these two types of people must declare, based on a series of criteria that we will see below.
Annual declaration 2022 for natural persons
To better understand the 2022 annual return for natural personslet’s review Article 150 of the :
Natural persons who obtain income in a calendar year, except for those exempt and those for whom definitive tax has been paid, are required to pay their annual tax by means of a declaration that they will present in the month of April of the following year, before authorized offices.
Now the annual declaration natural persons 2022 is relevant for those who do business and professional activities for which they received income last year. So, if you meet any of these criteria, you have to file an annual tax return:
- You carried out professional activities for a company that pays you a salary and the amount of that income exceeds $400,000 MXN gross (before taxes) per year.
- You had income as an independent worker for fees.
- You received payment from two employers, even if the sum of all does not exceed $400,000 MXN gross per year.
- You received income from labor compensation, liquidation, pension or retirement.
- You won the prize of a raffle, contest or raffle such as Forecasts or the National Lottery (and what envy, by the way).
- You receive interest on investments or financial funds that exceed $100,000 MXN gross per year.
- You collected the rent of some property.
Moral people
Article 7 of the Income Tax Law identifies as legal entities —and therefore, they qualify to file annual tax returns—:
- commercial companies
- Decentralized organizations with business activities
- credit institutions
- Civil societies and associations
- Association in participation if you carry out business activities in Mexico
- cooperative societies
- Finance system
- Trusts with business activity
📢 Tip: As of this year, both individuals and legal entities can be part of the Simplified Confidence Regime (RESICO), which makes it easier to declare ISR and encourages those who earn less to obtain reduced rates in the payment of their taxes. to check if you have what it takes to apply.
In addition, I invite you to read our article that explains , in case you want to review this point in detail.
When is the 2022 annual declaration made?
The period for natural persons to carry out their annual return 2022 in Mexico It will be from April 1 to 30. In the case of legal entities, their period to comply with this obligation is from March 1 to March 31. write in your diary when is the annual declaration 2022 made Not to forget it.
Remember that the declaration is always made the year after the close of the fiscal year or fiscal period —which corresponds to the calendar year that has just passed—, within periods and with processes established by the SAT.
So, the annual declaration for a year corresponds to your income and deductions from the previous year. In other words, the annual return 2022 corresponds to the income you received during 2021.
What expenses can I deduct on my 2022 annual return?
If you are a natural person, the personal expenses that you can deduct on your annual return 2022according to Article 151 of the ISR Law, are:
- Medical and dental expenses and fees
- Funeral expenses
- Non onerous or remunerative donations
- Interest on mortgage loans
- Complementary withdrawal contributions made to your corresponding subaccount
- Premiums for health insurance
- School transportation of direct descendants
- Payments made for local income tax on salaries
📢 Tip: All these expenses have their restrictions and exceptions. I suggest you give it a review to see if your medical bill applies for these deductions. 😉
How to make the annual declaration 2022?
to present your annual return 2022 As a natural person, you need to have your documentation and current fiscal codesas well as the Billing information in case you want to apply for a deduction or refund, and visit the SAT website. With these initial points clear, it will be easier to understand how to make the annual declaration.
If you have questions about how to register with the Treasury, I invite you to read our article where we give you detailed information about the process.
Like any procedure, do the annual return 2022 It is much easier if you first know the necessary elements to comply with the procedure, then analyze the process step by step, to finally review tips that help you make everything easier.
Documents needed to file 2022 annual return
For file annual declaration 2022 for natural persons you will need the following:
- Have a valid Federal Taxpayer Registry (RFC).
- SAT password or e.signature.
- Invoicing of personal expenses (in case of applying any deduction).
- Proof of perceptions and withholdings (necessary for employees who wish to check pre-filled information or request a deduction).
- CLABE of the taxpayer’s bank account (to request that the credit balance be transferred).
How to make the annual declaration: step by step
- Enter the SAT portal, in the tab.
- Click on ‘Tax Mailbox’ (A).
- On the Access by Password page, enter your RFC, SAT password or e.firma and then the code of the (B).
- Once inside, click on ‘Declarations’, and once again on ‘Submit your Annual Declaration of Natural Persons’ (C).
- Click on ‘File Declaration’ (D).
- Inside, select the fiscal year (2021 in this case), the type of declaration (normal) and in period, leave ‘Of the Fiscal Year’ (E).
- Enter the data requested by the declaration and answer the questions related to your income. This information will depend both on the tax regime that corresponds to you, as well as on the income you receive.
- In case you want to deduct, use the invoiced documentation of personal expenses in the corresponding section (you will need to upload files of the invoices to be deducted to the system).
- In the event that you detect any error in the preloaded information (because of invoices you provided or, in the case of being a salaried employee, because of the information provided by your employers), correct it with the proof of earnings and withholdings. It will ask you to upload a copy of the document to the system.
- If you have a balance in your favor, the system will give you the option to receive that balance by transfer (it will ask you for an interbank CLABE) or to keep it as a balance for the following year (2022).
- Once the declaration is finished, sign it and send it.
- Get your acknowledgment of receipt (you download it in PDF).
Options related to your annual tax return
On the ‘Annual Declaration’ page, you will find four options for your Annual declaration of taxes quite useful:
- Submit declaration: This is where you start the process, just as we saw in the step by step.
- Consult statement: know the status of a tax return already filed or if you filed a supplementary tax return.
- Acknowledgment printing: in case you didn’t save your receipt the first time.
- Paid statements: If you used capture lines to pay balance against, in this part you review the status of those payments or declarations of previous years.
Tips for your 2022 annual return
- If you need to clarify more specific doubts, the SAT has some tutorials on YouTube to carry out your annual declaration 2022. like this one dedicated to individuals with salaries, wages and similar and interests:
- In case you need any document for access, visit . There you can generate your password for the SAT siterenew your e. Signatureget your Proof of tax situation with CIF and know the requirements for each of these procedures.
- Use the capture lines to settle the balance against (if you have one) and pay the amount at the bank or by electronic transfer. Once the payment has been made, enter the receipt data in the system and obtain your acknowledgment of receipt.
- Review all the data calmly, but do not leave the session idle for a long interval because the system will close it and if you didn’t save, you will have to start over.
- If you made a mistake when filling out the declaration or some document was missing, it is possible to use the ‘Supplementary Statement’when filling in the Type of declaration,…
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