Why ‘Sugar Daddy/Mommy’ Gifts Are Not Tax-Free says SAT

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In recent years, the expression “Sugar Daddy” or “Sugar mommy” has spread to refer to an elderly and economically stable person who pays for young people their tastes, studies or even luxuries.

Se busca sugar mommy para comprar uniformes

However, in recent days the postcard of an association of lawyers and accountants went viral that informs about how the assets acquired by this informal relationship can lead to problems with the Tax Administration Service ( SAT ).

Although it might seem that sugar daddies and sugar mommies could make your life easier, this is not the case, especially when it comes to taxes. In Mexico, the Tax Administration Service (SAT) could end all the expectations you have of living a life without complications.

Why a ‘Sugar Daddy/Mommy’ can get you in trouble with the SAT?

According to the association, since there is no civil relationship that involves a document such as the marriage certificate, the deposits that you receive in are received to a bank account could not be interpreted as tax-exempt donations, therefore the person responsible for solving a part of these expenses is the beneficiary.

In addition, gifts in species such as cars or apartments may not be tax-free either, since for the SAT, since there is no fixed income record , they would automatically raise suspicions of some illegal activity 

The image of Grupo Cosme, which went viral through social networks, exposing why having a Sugar Daddy could bring you problems with the SAT. 

If they are “gifts”, who pays the tax?

Although there may be the fact that the goods can pass as “gifts”, the benefactor will necessarily have to pay the amount on the rent.

In the case of interbank transactions, these are also conditioned by the type of account that is managed, so before accepting any transaction it would be necessary to review the bank’s contract unless a payment profile is handled by account management that holds the money that the “Sugar Daddy/Mommy” just deposited.

In any case, the information card issued by accountants and lawyers actually seeks to reflect is that no one can escape the SAT

Source: heraldodemexico.com.mx

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