New facilities for filing the 2016 Annual Income Tax Return (ISR) for individuals
New facilities for filing the 2016 Annual Income Tax Return (ISR) for individuals

During the month of March, the tax authority provided a series of facilities for filing the annual tax return for individuals, as detailed below:

1.- Individuals who only received salaries from an employer, are not bound to file their annual tax return, regardless of the amount they earned, provided the employer has issued all internet tax receipts (CFDI (Comprobante Fiscal Digital por Internet)).

Taxpayers earning nominal interest from the financial system not in excess of $20,000 are also not under the obligation to file this return.

However, individuals who wish to obtain a refund, may file their annual return at any time during the year.

2.- The above facility does not apply if the individual earned income from retirement, pension, severance or any type of labor indemnification; he/she is also not bound to report as to loans, donations and/or prizes obtained during 2016.

3.- Individuals may choose to file their return through the taxpayer orientation number MarcaSAT 627 22 728 from Mexico City or 01 (55) 627 22 728 from elsewhere in the country, if they fall under any of the following assumptions:

- They obtained income from salaries from a single employer and have a maximum of twenty five CDFI.
- There is preloaded information from the authority in connection with income, personal deductions and an active bank account in the name of the individual.
- The amount of the tax refund obtained is less than or equal to $10,000 pesos.

4.- A password may be used to file the 2016 annual tax return if the following requirements are met:

• The amount of the ISR tax refund is less than or equal to $10,000 pesos.
• The amount of the ISR tax refund is greater than $10,000 pesos and does not exceed $50,000 pesos, provided they have previously requested a refund and the same bank account on record at SAT is selected.
If the refund balance exceeds $50,000, the annual tax return with the e.Signature shall be filed (formerly FIEL).

5.- This year 2016, employees are offered a tax return proposal containing prefilled information, and, if the case may be, with a refund amount, therefore, all individuals need to do is verify it and if they agree with its content, send it.

It is important to mention that, the deadline for taxpayers for filing their Annual Tax Return is April 30, but as this day is Sunday, the deadline is extended to Tuesday May 2nd.
Please contact us if you have any question or need any clarification in this regard.