There are authorities that everyone should know and one of the most important is the one in charge of all tax issues. In this case we refer to the Tax administration system (SAT) for its relationship with the finances of your medical office. Its main role is the collection of tax payments, although in reality it goes much further.
The first thing you should consider is that you as a health professional are obliged to comply with this obligation. That is why each month a certain amount is deducted from your salary for the payment of taxes. In case you do not comply with this aspect, you risk having to pay large fines or even see your work space suspended.
Types of doctors who must file an annual declaration
Something very important that you must take into account is that according to the Law on Income Tax (LISR) you are required to file the Annual Declaration if you meet any of the following conditions. If you obtained income greater than 400 thousand pesos in the year, if you worked for two or more employers in the same period or if you work in the fee payment modality.
Now, according to the Organization for Economic Co-operation and Development (OECD), Mexico is one of the countries that collects the least and at the same time one of those with a high rate of tax evasion (between 30 and 40 percent). Based on the SAT there are three main ways in which doctors evade or reduce their payment of taxes.
In that sense, there is also a legal alternative to deduct the annual declaration. There are some items that you can take advantage of to make the final figure lower. In fact, there is the possibility of obtaining a balance in your favor and if that happens the government will refund a part of your tax payment.
On the other hand, thanks to advances in technology and the strict monitoring of the tax authorities, it is now quite easy to keep track of each taxpayer without them knowing.
With the above in mind, here are 10 things the SAT knows about your medical office finances. Although some are very obvious, there are others that are often unknown to health professionals.
- The deposits they receive in all their bank accounts.
- Deposits in your financial investments, both domestic and foreign.
- All the payments they have made to their credit cards.
- The payments they have made for the acquisition of vehicles, even if the invoice does not have a Federal Taxpayer Registry (RFC).
- Payments for the acquisition of real estate, even if they are written at a lower price than the real one.
- Payments for the purchase of medical equipment.
- What they have paid for the purchase of airline tickets.
- Tenure payments, predial and other local contributions.
- Payments for contracting life insurance, medical expenses, automobile, among others.
- Income billed and declared. The SAT compares this with everything already mentioned in the previous points.
In addition, it should be taken into account that since 2016 the SAT sends letters to hospitals throughout Mexico to request information from the doctors who work in their facilities and thus know their fiscal situation.