Individuals, depending on the regime in which they are registered with the SAT, will have a greater or lesser base of deductions.
“We bring another determination, precisely the annual adjustment for inflation. We saw an important adjustment for legal entities, so it will also depend on how it can affect individuals, but it will depend on the regime under which they are paying taxes in order to determine these non-accounting tax items”, explained Ariana Martínez.
He added that, while those who are registered with business activity, can deduct more expenses than those who are under wages and salaries, who can only deduct personal expenses.
On the page of the Tax Administration Service you can consult the deductible expenses and the amounts that apply, depending on the regime in which the taxpayer is registered.
The winner
Inflation, a tax that everyone pays equally, may not leave winners because not all workers have salary adjustments based on the inflation rate, agreed Martínez, from the CCPM, and Ríos from the UP.
However, the SAT may be the winner in this equation, since a lower balance to be returned can translate into an increase in collection.
“The deduction of mortgage interest had a favorable impact. Now, this (inflation) is going to make them receive less than half of the refund, therefore, the authority is expected to collect more because they stop applying that deduction,” said Virginia Ríos.
In its monetary policy announcement in March, Banxico’s Governing Board expects inflation in the fourth quarter of this year to be 5.5% and 3.2% in the last quarter of 2023. Now, the central bank estimates that the inflation index Prices will converge to the 3% target in the first quarter of 2024 (3.1%).