The Tax Administration Service (SAT) is in charge of monitoring financial operations, including bank transfers.
If you are one of those people who makes multiple transfers, whether for the famous subscriptions or other reasons, especially if they are high amounts, this information is important to yousince the SAT could be interested in your banking transactions.
What happens to the SAT when you make a lot of transfers?
The transfers that particularly draw the attention of the SAT are the following:
- Transfers greater than 15 thousand pesos
Banking institutions have the obligation to inform the SAT of movements that exceed this amount. - International transfers
If you send recurring amounts abroad, for example, to family or friends, the SAT verifies that the money is legal, especially if it is large amounts. - unusual movements
If the SAT detects an unusually high volume of transfers compared to your declared income, it may initiate an audit to check whether you are correctly declaring your income.
It is worth mentioning that the SAT can block your account if it detects that you make many transfers and you do not justify them, in addition to investigating the origin of the corresponding income.
Which transfers do not generate taxes?
Although these transfers do not generate taxes, it is essential to justify them and verify their origin before the SAT to avoid problems. SPECIAL/PEXELS
Interbank transfers that do not generate taxes are the following:
- Transfers between own accounts.
- Transfers from family members (immediate relatives: parents, siblings or children).
- Transfers for sales or services.
Although you are transfers They do not generate taxes, it is essential to justify them and verify its origin before the SAT to avoid problems.
How to prevent the SAT from calling you?
If you do not justify your taxes, you run the risk of being investigated by the SAT and face consequences such as:
- Tax audit.
- Payment of omitted taxes: If the income was not declared, you will have to cover the corresponding amount, in addition to high fines.
To prevent the SAT from investigating you, we recommend the following steps:
- Declare your income by issuing invoices and reporting them correctly to the administrative body.
- Keep documents that support the origin of your money (for example, donation contracts, private agreements, etc.).
- Remember that professionals can be of great help. Don’t hesitate to consult a trusted accountant to help you keep your finances in order.
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