As of 2020, the SAT tax department has reinforced its tax collection strategy by applying what is known as the institutional ABC: Increase tax collection efficiency, Reduce tax evasion and avoidance and Fight corruption. The figures for 2017 to 2021 speak for themselves by showing an increase of 3.6 million contributors registering their annual declaration.
With this in mind it is important to know that April 30, 2022 is the deadline for individuals (persona física) to hand in their annual income tax (ISR) declaration for the 2021 fiscal year.
Furthermore, and as per tax legislation, individuals that obtained income and fulfill the following conditions, are obliged to make their annual ISR declaration:
They are in the Wages and Salaries category and have an income of over 400,000 pesos, with the exception of those who obtained it exclusively through salaries during the fiscal year, including over 400,000 pesos from just one employer, as long as the total income is by payroll (CFDI).
Included are those who obtained income from two or more employers at the same time.
Those who received income through retirement, pension, redundancy or some other kind of work compensation. Similarly for those who received other forms of income, such as: debts condoned by the creditor or paid by another person, for investments abroad, for moratorium interests and/or for conventional penalties.
Also, those who have received income for professional services (fees), real estate rental, business activities (commercial, industrial, agricultural, ranching, forestry, fishing and transportation), disposal of assets, acquisition of assets and interests, except for those that are taxable under the Tax Incorporation Regime (RIF), unless they have been chosen to determine provisional payments with profit coefficient.
Even though the SAT has developed a digital platform everyone can use, for making their annual declaration, MexTax has the necessary experience to offer you the certainty you seek as a contributor, and also by hiring our services we guarantee your monthly tax obligations will be properly handled, as well as offering you impeccable annual tax control.
