The Understanding of the Tax System


In our country, taxes are an obligation that we as citizens have to fulfill. But that does not mean that we cannot have benefits for making our declarations in a timely manner. In the following article, we will mention some of the things you should know, especially if you are getting into the subject of taxes.

Annual declaration?

Yes, being a natural person and obtaining income, you must file an annual declaration in the following cases: if you are a salaried employee and obtained income greater than $ 400,000 pesos, obtain income from two or more employers simultaneously, if you had Cumulative income such as fees, leasing, business activities, in addition to salaries, or, if you received income from employers not obliged to make withholdings such as international organizations.

Activities to be declared annually:

Provide professional services (fees), rent real estate or carry out business activities except if you are taxed in the Tax Incorporation Regime, sell or acquire assets , receive salaries or interests, debts forgiven by the creditor or paid by another person for investments abroad, for late interest or conventional penalties, income from loans, awards and donations that exceed $ 600,000 pesos and income exempt from the payment of ISR for inheritances or legacies and for alienation of a home greater than $ 500,000 pesos.


Keep an eye on the dates when you must file your returns. This will avoid fines and financial penalties. The declarations can be monthly or annual, approach the different delegations of the Tax Administration Service (SAT) to inform you about the dates and how to do them.

Personal deductions:

As a natural person, there are a series of tax deductible expenses, among which are tuition fees, medical fees, dental fees, hospital expenses, funerals or premiums for medical expenses insurance. It should be noted that these will have a maximum amount to be able to deduct them.


If at the time of making your annual return, it turns out that you have a balance in your favor, the Ministry of Finance and Public Credit, through the SAT, will return the surpluses. On the electronic portal, when making your declarations, you must follow the instructions to make your refund request. Also for the tax returns you will need the use of the sales tax calculator now. It saves your time perfectly.

Having a tax culture will help create awareness of the importance of being up to date with our tax returns and payments.

Remember that this is an informative article only. In order to comply with your tax obligations correctly, you must consult experts, such as an accountant, a lawyer in tax matters or directly in the offices of the SAT, in the latter, there is no cost to guide you in your doubts.

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