A report of Fiscal Activities during the year 2023.
The fiscal world continues its cycle of benefits in Mexico as the Mexican economy is changing rapidly, and this is partly due to the fiscal discipline that the SAT has employed for the past couple of years, which has resulted in taxpayers finding great benefits in paying their taxes on time and making their declarations in a timely manner.
In this case, we will talk about the Annual Statement 2023, which is nothing more than a report of fiscal activities during the year 2023 and from which the payment of taxes derives. The deadline for the Annual Statement 2023 will be next April 30th of this 2024. So you still have a month to make this important procedure.
Individuals who are required to file the annual statement are all those with annual incomes exceeding 400,000 pesos. Also, those who in 2023 carried out two or more economic activities, for example, if you are an employee of a company and you own an apartment or commercial property that you rent. It is also mandatory for individuals who had two or more employers, for example, if in the same year you changed jobs; if you were in two or more tax regimes in the same year, or if you stopped working before the year ended.
The deadline to file the annual statement for individuals for 2023 is from April 1st to April 30th, 2024. In case of not filing the tax obligation within the deadline, taxpayers become liable to a fine of up to 34,730 Mexican pesos, according to the SAT. Individuals who file their annual statement on time and are assigned any additional tax will have the benefit of deferring payment in up to six installments. The first installment is made in April 2024 and the last must be paid before September 30th.
It is very important to note that if you did not complete this procedure on time, you must go to the SAT for evaluation and sanctioning as it is a federal obligation, and failure to comply may result in penalties established by law.
The penalties for undeclared obligations range from 1,400 pesos to 17,370 pesos. For each obligation filed outside the deadline or for failing to comply with requirements, there may be a fine for not filing the Annual Statement ranging from 1,400 pesos to 34,730 pesos.