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Are you a persona fisica or a persona moral? Do you need a factura? Not quite sure how to answer these kinds of questions? Don´t worry. We put together a list of some important accounting and tax terms in Mexico. We will continue to add to the list when we can:

Refers to a pension fund managers (approved by the Mexican government) who manage individual savings accounts that are used as retirement funds

An electronic ID required to access SAT services online

A unique identity code for all Mexican citizens and residents. For residents, it is usually requested just following the residency process

Advanced Electronic Signature issued by SAT that identifies the sender as the legitimate author of the message and serves as an official signature. Provides electronic security for all taxpayers.

An address registered with SAT as the official location of a business or individual for tax purposes

A governmental agency that assists public health and social security.

A governmental agency which assists Mexican workers in purchasing homes. Employers must register and pay into the fund for their employees which allows them to apply for a mortgage to purchase a home.

A registry which companies who wish to import products into Mexico are required to apply for with SAT

Mexican tax ID number assigned by SAT – both individuals and corporations must have an RFC

Mexico´s Tax Authority – similar to the IRS in the United State or CRA in Canada

A bank trust – the only way a non-Mexican can purchase real estate within the restricted zone

The incorporation documents of a corporation

An official electronic invoice registered with SAT. Shows how much tax was paid or withheld as well as how much the purchaser spent and the seller earned.

Value Added Tax (16% Federal tax on most goods and services)

Income tax – also used when discussing capital gains

Refers to a business or commercial entity

Refers to an individual with commercial activities

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