SAT regulates the purchase and sale of new and used cars; there are fines for non-compliance


According to Jesús Rodríguez Ambriz, president of AMCP, the measures of the fiscal authority seek to combat money laundering and illicit operations

The sale of new or used cars is regulated by the Tax Administration Service (SAT), and you have to notify them or you can be fined more than 17 thousand pesos. How is it reported if the sale is to a natural or legal person? What are the amounts to be exempt from paying taxes? Take a look at this information.

According to the president of the Mexican Association of Public Accountants (AMCP), Jesús Rodríguez Ambriz, when a new agency is purchased, it sends a letter with the reference of the Federal Taxpayers Registry (RFC), which from this year is mandatory if you are over 18 years old, and the Unique Population Registry Code (CURP), so that the SAT notifies if it corresponds to the activity of wages and salaries. If it corresponds to another activity, it will only be placed on the invoice that, as of this year, the agencies issue.

Although the declaration on the purchase of used cars is not something new, he said, what is new is that an electronic invoice must be generated. “Before, only the invoice was endorsed, but now there is an obligation to invoice to report that the power of the asset is being lost and if there are more activities, in addition to wages and salaries.”

For the change of ownership and the plates, the electronic invoice is also necessary, since the authority seeks to identify the seller and the buyer to prevent money laundering.

The objective, he maintained, is that all operations pay taxes, the transfer of goods takes place, the operations take place in a lawful manner and there is legal certainty, that is, that the people who make the purchase are the true owners of the assets.“There are cars that can go through three or four operations in a year because it is easy to sell and acquire them, especially because the market is saturated, there is a lot of supply and the demand is not comparable. Therefore, the authority is already putting obstacles to change the name of the holder of the plates.

Deductible in four years He emphasized that as long as the buyer is within the wages and salaries regime, he will be exempt from the declaration in a purchase of up to 105 thousand 303 pesos.

In case of having a business activity, the taxpayer must look for the purchase value and the sale value so that when subtracting the operation, he will have the utility for the alienation of the asset.”If we have activities, there is a loss for the years of use of the vehicle that the Tax Code allows for 25 percent each year.”

The purchase of an asset of this type, he explained, cannot be deducted 100 percent, since what the Income Tax Law (ISR) allows is only 175 thousand pesos. “That is the maximum amount that I can deduct in four years, that is, if the purchase was for a car of 350 thousand pesos, only 175 thousand can be deducted and per year it will only be 25 percent of that amount.”

It is worth clarifying that in the case of pickup-type vehicles there is no limit because they are generally used as work tools.

Penalties for offenders

The penalties for not declaring the operations, whether it is the purchase or sale of a vehicle, range from 17 thousand 370 pesos . If a person sells his unit, he must invoice and if the purchase must be requested in his name, otherwise he will not be able to deduct.

If the operation is not declared in a timely manner, it can be classified as Money Laundering , that is, hiding or disguising the origin of illicitly obtained profits, so that they appear to come from legitimate sources; and the buyers can lose the good, according to the Fiscal Law.“With these measures, the tax authority seeks to combat money laundering and illicit operations, which, if proven, can lead to the seizure of assets or money. If it is not declared in a timely manner, the authority can seize and apply fines, which are an administrative burden.”

Declaring is not paying

The president of the AMCP maintained that declaring correctly does not mean that taxes must be paid, the important thing is that before any revision the authority endorses the operation. In case of not doing so and if they detect any irregular deposit in the annual declaration, apart from the fine, ISR and VAT will be recorded at 100 percent.

“In the end, declaring gives legal certainty because it is a good,” he says. “The exhortation to those who are making an effort to buy an asset is to do things right and not lose their assets due to poor advice and for not paying between 5,000 and 9,000 pesos for ISR. The ideal is to go with an accountant and find out if you are exempt or not, it is better to pay them at that time and not risk an embargo or fines “

Mexico Daily Post