SAT: how to use the simulator to find out what your tax obligations are

According to the Tax Administration Service (SAT), taxpayers will have to make their annual return between April 1 and 30 in order to file their taxes and thus end the 2021 fiscal year. In this regard, the agency belonging to the Ministry of Finance and Public Credit (SHCP) has set up a simulator that aims to familiarize individuals with the process and also determine the amount they will have to pay for income tax (ISR).

The tool enabled by the institution chaired by Raquel Buenrostro Sánchez will help taxpayers to know in advance what obligations they are entitled to according to the economic activity they carried out and can be carried out by both individuals and legal entities.

In order to use the application, you can access the official SAT website and enter the “RFC Procedures” module. Once in this section, locate the “RFC Registration” submenu and click on the option “Simulator of the Economic Activities and Fiscal Activities Questionnaire”. Then, locate the “RUN ONLINE” button and follow this procedure:

1. Select whether you are registered with the Federal Taxpayer Register (RFC) as a natural or legal person.

2. Capture the CAPTCHA code of the image.

3. Start with capturing taxpayer information.

The first questions will be related to the type of taxpayers' income, once the answers have been selected as appropriate, the SAT will ask them to locate the group to which the economic activity they carry out belongs and then they will have to select their economic activity again through subgroups. After you have answered these sections, the application will ask you to be told how economic activities are being carried out and the percentage of income received from each of them.

At the end of answering the questionnaire, the website will provide a summary with the taxpayer's information, such as the regime to which they belong, their full name, the economic activities in which they participate and what their tax obligations are. It should be recalled that, as reported by the SAT, persons obliged to make the declaration must be part of the following regimes:

- Professional services (fees)

- Business activities

- Technological platforms

- Lease

- Interests

- Dividendos

- Disposal of assets

- Procurement of goods

Likewise, to find out the cumulative total amount of invoices issued and received per month, which is used to pre-fill the tax and VAT returns for persons who pay taxes under the Simplified Trust Regime (RESICO), taxpayers can use the invoice viewer tool by clicking on the following link: https://www.sat.gob.mx/declaracion/83668/simulador-del-visor-de-facturas-emitidas-y-recibidas and they will have to log in with their RFC with a homoclave, password and the portable e.signature.

Finally, if taxpayers want to review their tax status on the SAT Portal, this is done by entering with their personal password and clicking on the option “Tax debits”. There they will be able to directly consult which taxes and returns are pending in order to proceed to pay them. In the event that there is not enough liquidity to cover the payment of taxes, the interested parties may make the payment up to 36 monthly payments.

According to the tax authority, articles 66 and 66A of the Federal Tax Code stipulated that in the event that payments are in partialities ranging from 1 to 36 months, taxpayers must make an initial payment of 20% of the total amount of their debt and the remaining 80% is the one that will be financed to pay it in the monthly payments chosen, with a rate that will vary as follows according to the months chosen:

- From 1 to 12 months rate to be applied of 1.26%

- From 13 to 24 months rate to be applied of 1.53%

- From 25 to 36 months rate to be applied of 1.82%

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