Being the first days of March 2025, taxpayers moral are with the right time to specify the information, documentation and work papals necessary for the filling of the annual income tax declaration of the fiscal year of 2024, in this sense the essential elements of control are; (i) cumulative income and (ii) authorized deductions.
Cumulative income
Taxpayers in the development of their economic activity must carry out a comprehensive review of the tax tax vouchers in force, the central objective is to express the correct income in the determination of the tax of the fiscal year of 2024, in the same way it is extremely necessary to have verified; (i) Provisional income tax payments, (ii) work papal with the determination of the annual tax and (iii) verification balance corresponding to electronic accounting, and, in this way, in particular, it can be verified that in some concepts the income determined by the taxpayer is coincident with those that the SAT identifies in its databases.
In cases that the SAT database of the tax tax vouchers, does not match the taxpayer’s information, if applicable if the variation is correct, complementary statements must be submitted in the provisional payments of ISR in order to express the correct income. The most usual cases of variation are; (i) Duplicity in fiscal vouchers, (ii) fiscal vouchers issued with errors and (iii) tax receipts pending to cancel for operations not carried out.
It should be remembered that as in recent years, applications for provisional income tax payments are updated every 72 hours, that is, it is necessary that the income that is reflected in provisional payments is updated with the most recent information, before submitting the annual declaration.
Some taxpayers with particular economic activities such as real estate developers, or moral persons in resin modality, have particular characteristics in the modality of accumulation of income, so prior to identifying the particular rules, the elements that make each taxpayer and specify the concepts that must accumulate.
Authorized deductions
The authorized deductions concept that allows the decrease in the tax base, in general these concepts are; (i) cost of sales, (ii) expenses (iii) financial expenses and interests, (iv) payroll and social security related, (v) discounts and returns (vi) investment deductions and (VII) among others, as well as the following should be considered:
1. Be strictly indispensable, that is, regardless of whether it is, these must be related to the economic activity and the social object of the taxpayer.
2. Fiscal requirements must meet, this concept could lead us to a much more extensive dialogue, however, some essential elements that the tax authorities requested when there are powers of verification are: (i) tax receipts, (ii) administrative controls, (iii) contracts, (iv) quotes, (v) accounting records, (v) Documentation of the business relationship of the service provided and (VII) Traceability of the operations.
3.I Review of the tax vouchers in force in accordance with the SAT database, these are identified according to their use as they are:
- G01 Acquisition of goods
- G02 Returns, discounts or bonuses
- G03 expenses in general
- I01 constructions
- I02 furniture and office equipment for investments
- I03 Transport Team
- I04 Computer and Accessories Team
- I05 Dice, Troqueles, Molds, Matrices and Heramental
- I06 telephone communications
- I07 satellite communications
Having good administration of the tax receipts received is indispensable, to carry out a traceability with the annexes of the Annual Income Tax Declaration such as; (i) The income statement, (ii) financial position status, (iii) investment deduction, (iv) determination of the cost of the sold, (v) determination of the tax and (vi) fiscal accounting conciliation.
Using the technology in our favor allows efficient control of the tax receipts issued and receipts integral part in the determination of the annual tax and the accounting and fiscal information, some tools in the Mexican Information Technology Market to perform a proactive analysis are:
- Miadminxml
- CSReporter
- ÉLITE SYSTEM DISCRGA XML
- CONTPAQi
- CPA VISION
- THE CFDI ACCOUNTING SOLUTIONS
- One facture
- In others
The opinions expressed are only the responsibility of their authors and are completely independent of the position and the editorial line of Forbes Mexico.
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