Some of the changes for the 2022 Annual Tax Return

By March 31, 2023 at the latest, legal entities must file the annual tax return for the fiscal year 2022. Derived from the above and considering this might be of interest to you, we present below some important points regarding the annual tax return that the Tax authority or “Servicio de Administración Tributaria” (hereinafter, “SAT”) released through its website, we now point out some of the most relevant provisions to consider:

I) The detail regarding the exempt and non-accruable income has to be indicated, so in case of not having this type of income in the fiscal year, this situation must be indicated as well. Also, new concepts of accruable income were incorporated in the integration of nominal income, such as recoveries of any loan portfolio, accruable income from the release of company reserves, consolidation of the bare ownership and usufruct, tax profit or gain for the sale or assignment of derivative transactions referred to an exchange rate.

II) Entities must indicate whether they are required or choose to report their financial statements for tax purposes, or, if applicable, they must indicate whether they are required to file information on their tax situation.

III) In terms of authorized deductions, it must be considered that these concepts are now included, such as expenses incurred in the payment of services for the use of highway infrastructure, expenses incurred in the fiscal year for investment projects and technological development, payment of tolls for public transportation, to mention a few examples.

It is important to mention that in case of not filing the annual tax return or filing it outside the term established by law, the tax authority may impose fines that may surpass $30,000.00 MXP.

In recent years, the tax authority has placed special emphasis on collection efficiency through the imposition and follow-up of penalties and fines, as well as audits and reviews. It is worth noting that the tax authority expects this year to increase the amount of collection of taxes by approximately 10% more than in 2022.

In view of the above, the tax team of Vega, Guerrero & Asociados is at your service to provide you with the corresponding support and advice for compliance with these new tax provisions.


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