SAT: what are the requirements to authorize a balance in favor on the annual tax return

In line with the month of the annual tax return, which is filed during April, the Tax Administration Service (SAT) announced the criteria or requirements for the automatic system of returns, so that a balance is determined in favor of individuals.

It must be remembered that by having a balance in favor, a person will be able to transform that into an economic return. The result is when when performing the tax calculation, that is, when filing the annual return, it turns out that the taxpayer paid more than he owed.

Also clarify that, the Automatic Refund System is a facility applicable to individuals who file their 2021 annual return and in accordance with the SAT “who determine balance in favor of income tax (ISR), provided that they choose to exercise this refund until July 31, 2022″.

What are the requirements to consider?

The deposits of the first authorized returns were reflected during the second week of April 2022. This applies to all individuals who file a normal or complementary return for fiscal year 2021 and are placed in the following cases:

-Send your declaration electronically with either password or electronic signature (e.signature).

-The amount to be returned through the Automatic Returns System, is less than or equal to 150 thousand pesos.

-Confirm your CLABE bank account number, which must be in the name of the taxpayer.

The SAT clarified that the account selected or captured by the taxpayer will be the one authorized to make the deposit of the respective refund.

When will the return not be considered?

*When the balance in favor exceeds 150 thousand pesos. In this case, the return will be requested using the Electronic Returns Form (EDF).

*Also, if they request the refund for fiscal years other than the financial year 2021.

*Submit the declaration by password, being obliged to submit it with electronic signature (e.signature).

*Submit the refund request via EDF, prior to obtaining the result of the tax return for fiscal year 2021 that you have entered.

*File the normal or complementary annual return for fiscal year 2021, after July 31 of this year.

*When they have not chosen the return option on the annual return; that is, if the “return” box was mistakenly selected on the submitted return instead of “Compensation”, or the option “Compensation” was selected but you do not have tax to offset, you can modify these options when filing the return complementary to the exercise, noting this change before 31 July of this year.

The Treasury also has a certain number of days to authorize the balance in favor and return the economic resources.

The annual tax return must be made throughout April, since the 30th of this month was set by the tax authorities as the deadline to carry out the process and avoid future problems with the tax authority.

The filing process is used to record income from your salary, your deductions, perform the calculation of the annual tax, file in zeros, pay or request a balance in favor, that is, a cash back.

Among the personal expenses that can be deducted are some such as: health, education, funeral services, contributions to your Retirement Fund Manager (Afore), among others.

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