if in this past Good end you made purchases with your credit card for months without interest, exceeding your ability to pay, or you are one of those who prefer to pay with plastic frequently, trusting that you will settle the debt with some income that you hardly expect to receive, we have bad news for you: The Tax Administration Service (SAT) can make any requirements or completely review your finances.
It is true that credit cards are one of the most valuable financial instruments that allow us to acquire goods and services with attractive promotions, which even gives us the opportunity to save, the problem is not calculating exactly if we have the income, reported to the SAT, to pay those loans.
tax discrepancies or differences between the income that you declare to the tax authorities and your debts They are one of the main reasons that the SAT has to audit you, so you must be very careful if the monthly payments on your card exceed the salary you earn, regardless of whether you comply with the payments on time.
family donations
For example, if in your statements to the SAT you have reported that you earn 30,000 pesos a month, but your expenses in that same period, including the monthly payments on the card, are 35,000 pesos, and you are not late in paying the plastic, for the SAT obviously you are receiving income that you have not notified.
Between couples, it is usual that one is the one who pays with the card, and both contribute for their respective payment, in this case the discrepancy that the SAT can find is easily verifiable, since legally it is donations (of money) between spouses, what you will have to explain to the authority in case of receiving a requirement.
The real problem arises when credit cards are shared with third parties who, even if they are from your family, have no way to prove their income, which can create a more serious problem with the Treasury.
That is why, if next Christmas you and your siblings want to buy your mother a screen or a high-end refrigerator with your credit card, and everyone -as a family- will contribute a part of the payments, it is better that they do it using various plastics. Otherwise, the entire debt will be registered for the SAT individually, encouraging that authority to begin to review more carefully what your true income is.
pay other people’s bills
Another very common mistake is to lend your credit card to people who are not your relatives. Friends, even if they are very obliging when it comes to paying the debt acquired with the plastic, will not have any problem with the SAT, but you will have to explain to them why you pay the card’s monthly payment on time, despite the fact that you do not have the enough income to do so.
These types of tax discrepancies are also common when you offer to pay the bill generated in a restaurant using your card. It does not matter that the other diners give you at that moment the money that corresponds to them for their respective consumptions, for the SAT it is you who is paying, which must coincide with the income that you have reported to that authority.
Withdrawals and cash payments
The Tax Administration Service is also aware of the bank transactions we carry out, especially if the credit card is paid in cash, once you have made a withdrawal from another account.
If you have a debit card in whose account you receive your salary, it is not recommended that you withdraw cash To pay your credit card, it is better that you make a transfer between both accounts, since it is usual for taxpayers to receive some requirement from the SAT if -constantly- you settle the plastic debt with cash.
The tax authorities pay more attention to this type of payment, since they can presume that you did not pay taxes for the receipt of the cash with which you pay the credit.
Check before you buy
Believe it or not, in Mexico it is common for the monthly payment of a credit card to be paid with the resources of another similar plastic. Unfortunately, there are people who buy on credit exceeding their real ability to pay, or with the expectation that they will receive extraordinary income.
The same tax authority has already warned that it is a serious mistake to pay a credit card with cash withdrawals made on another credit card, since for the payment of both you must check how you are obtaining your income. What is recommended in this case is to review your finances before buying with the plastic, so you will not exceed your credit.
Nothing to lend it to your work
In addition to all these mistakes that are usually made personally when using a credit card, in our country there are also tax discrepancies for the payment of labor expenses they are actually run by companies.
If the firm in which you work asks you to pay with your plastic the expenses generated in a business trip, so that the SAT does not find any difference, the company must transfer the amount spent to your debit or payroll account, so that later you make the transfer of payment to the credit card.
In this scenario, problems with the SAT are common if the company pays directly for the card you used, so it is better to refuse to use your personal credit to settle what actually corresponds to your workplace, since the deposit that -if applicable- will be made by the company, it must be fully justified before the tax authority, which includes the respective payment of taxes.
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surya palaces Journalist and lawyer, specialist in legal analysis and human rights. She has been a reporter, radio host and editor.