Inter account bank transfers – Presumed as taxable income

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Inter account bank

Inter account bank transfers – Presumed as taxable income

The Tax Administration Service (“SAT”) has recently assumed bank transfers between a taxpayer’s accounts as taxable income. A determination from SAT must be challenged.

The Federal Court of Administrative Justice has recently issued a ruling that lists the proper documentation to eliminate the presumption of the “taxable income” of the inter-account wire bank transfers. From this ruling (published on June 25, 2021), taxpayers must support their bank transfers with the following documentation:

  • Account statements.
  • Accounting work papers.
  • Copy of the receipt specifying the amount and the account from which the deposit is made.
  • Check number or transfer report.
  • Number and name of the bank account opened in the name of the taxpayer where the outgoing deposit is shown.
  • Origin of the deposited amount.

We will be glad to assist you if you have any comments or questions regarding this matter. For specific questions, please contact us.

Alejandro Pedrín   |   apedrin@tplegal.net
Héctor Torres-López   |   htorres@tplegal.net
Leobardo Tenorio-Malof   |   ltenorio@tplegal.net
Mauricio Tortolero   |   mtortolero@tplegal.net
Alejandro Ceballos   |   aceballos@tplegal.net
Elio Sánchez   |   ecsanchez@tplegal.net
Iván Curiel-Villaseñor   |   icuriel@tplegal.net
Raúl Escamilla-Sanromán   |   rsanroman@tplegal.net

 

 

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