Annual statement of legal entities
An annual statement is an official document that is presented before the Tax Administration Service (SAT), in which information related to tax operations conducted during a fiscal year is shared.
In Mexico, both natural persons and legal entities are required to present an annual statement whenever their income is obtained from:
- Wages for subordinated service.
- Professional activities.
- Leases or use of immovable property.
- Interests.
- Awards.
- Dividends and earnings distributed among legal entities.
- Asset disposal.
As a legal entity, a fiscal statement must be presented within the first three months following the end of the fiscal year, having March 31 as deadline. In case the last day is a non-working day, the deadline is extended until the next business day in April.
Every legal entity must present their fiscal statement in March of the year that follows that of which the statement is made.
Requirements needed to present the fiscal statement of a legal entity:
- Balance sheet or financial status from the end of the fiscal year, considering all information from January to December.
- Result status.
- Accounting and tax conciliation.
- Provisional, monthly and/or definitive payments and/or statements. These must be regularized prior to their presentation in the annual statement.
- Working papers in which the calculation of the provisional payment of the Income Tax (ISR), monthly payments of the Value-Added Tax (IVA) and the Flat Rate Business Tax (IETU) are reflected.
- In case it is necessary, a record of perceptions and withholdings should be presented, as well as a record of Cash Deposit Tax (IDE) receipts.
- Advanced electronic signature, now known as e-signature.
Avoid leaving it all until the last moment.
Complementary statements are documents presented to avoid errors that may have been originated in the normal statement, such as:
- Errors in the billing period or concept of stated tax.
- Omission in the declaration of one or more obligations.
- Failure to make the payment within the established deadline in the OCR scan line.
- Modification of data related to tax or payment determination.
We recommend you read the Annual statements for natural persons entry to learn the needed requirements. As a natural person or legal entity, in QuAdrans Law and Finance we offer counselling with certified accountants that are capable of guiding you in the determination and presentation of statements and tax payments.
