SAT: how much are the penalties for not filing the annual tax return

The annual tax return is an obligation that some people must file, otherwise they will be eligible for some penalties. Therefore, we will remember what those punishments are for not engaging in such fiscal activity.

First of all, it will be important to remember that today is the deadline for corporations (companies) to file their annual tax return, since according to the Tax Administration Service (SAT) March 31 is the deadline for carrying out the process.

While individuals will still have one more period, since they will be able to carry out the procedure throughout the following month, the deadline for filing the return in this case is April 30.

It should be remembered that the SAT has a series of punishments for all those who do not fulfill their obligations in a timely manner. For example, making their return incomplete could also lead to the taxpayer acquiring a penalty.

What are the fines?

*From the thousand 560 pesos to the 38,800 pesos will be the fine for not filing the return.

*From 15,800 pesos to approximately 37,700 will be applied for failure to comply with the established times or in form, as established by the Tax Code of the Federation.

In the meantime, it will also be necessary to remember that the annual return serves to record income from your salary, your deductions, perform the calculation of annual tax, file in zeros, pay or request a balance in favor, that is, a cash back.

Even, both legal and natural persons may carry out the process of their declaration through an internet page and only respecting a few steps.

Who should submit it?

In April, individuals declare that they earned income from:

*Wages:

-From a single patron and they stopped receiving it before December 31.

-If they also earned income other than salaries.

-If they worked for two or more employers simultaneously.

-If wages come from abroad or from people not obliged to withhold.

-If they also obtained income from compensation or retirement.

-If the total annual income for this item exceeds 400 thousand pesos.

*Professional services.- These are those who earn income on their own and issue proof of fees.

*Business activities, including those who are taxed under the Tax Incorporation Regime and chose to make provisional payments bimonthly by applying a profit ratio.

*Business activities carried out only through technology platforms, computer applications or similar, that have not opted to make definitive payments.

*Collect rent for some real estate (apartment, house or commercial premises).

*They receive interest or dividends.

*They alienated goods, if they sold any goods.

*Acquisition of goods, if they purchased any goods.

The good news is that people can access a series of deductions and get a balance in favor if authorized. To find out if you are eligible for personal deductions, the taxpayer will need to consult the invoices that have been issued and whose items have been classified as personal deductions for the annual return.

The return process can be achieved annually when filing the return, which is carried out in person or through the web.

KEEP READING