{"id":8573,"date":"2018-04-30T16:49:37","date_gmt":"2018-04-30T21:49:37","guid":{"rendered":"http:\/\/quadranslawandfinance.com\/?p=8573"},"modified":"2020-05-28T13:12:53","modified_gmt":"2020-05-28T18:12:53","slug":"what-is-a-tax-credit","status":"publish","type":"post","link":"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/","title":{"rendered":"What is a tax credit?"},"content":{"rendered":"<p><span style=\"color: #000000;\">A very relevant concept in the tax area is the <span style=\"color: #02afa0;\"><strong>tax credit<\/strong><\/span>, it must be understood as the income that the State has the right of in its public right functions that come from taxes, exploits or accessories. In other words, tax credits are the rights of charges in favor of the State, or debt you have with the State and it emerges from what&#8217;s stipulated in the tax laws.<\/span><\/p>\n<blockquote>\n<h4><span style=\"color: #000000;\">The 4th article of the Mexican Law Code establishes that &#8220;Tax credits are the ones the State has the right on acquiring or its decentralized authorities that come from taxes, accessories or exploits, including the ones that come from responsibilities the State has the right to demand from its officers or the employees from individuals, and also the ones the laws give this function to and the State has the right to obtain by others.<\/span><\/h4>\n<\/blockquote>\n<h3 style=\"text-align: center;\"><span style=\"color: #02afa0;\"><a style=\"background: url('http:\/\/twitter.antoniorull.com\/img\/tuit.png') right top no-repeat rgba(0, 152, 209, 0.1); padding-right: 15px; color: #02afa0;\" href=\"https:\/\/twitter.com\/intent\/tweet?url=http%3A%2F%2Fquadranslawandfinance.com%2F&amp;text=The%20amount%20of%20the%20tax%20credit%20can%20be%20updated%20from%20the%20moment%20its%20generated%20until%20it%20is%20applied.\" target=\"_blank\" rel=\"noopener noreferrer\">The amount of the tax credit can be updated from the moment its generated until it is applied.<\/a><\/span><\/h3>\n<p><span style=\"color: #000000;\">The tax credit is a figure determined when the total of tax deductions is higher than the aggravated incomes, this means that those products that generate taxes and that are divided according to the fee applied to them, in the matter that it concerns them.<\/span><\/p>\n<h3 style=\"text-align: center;\"><span style=\"color: #02afa0;\"><a style=\"background: url('http:\/\/twitter.antoniorull.com\/img\/tuit.png') right top no-repeat rgba(0, 152, 209, 0.1); padding-right: 15px; color: #02afa0;\" href=\"https:\/\/twitter.com\/intent\/tweet?url=http%3A%2F%2Fquadranslawandfinance.com%2F&amp;text=The%20property%20tax%20is%20a%20tax%20credit%20example%20for%20it%20is%20determined%20by%20law%20and%20it's%20a%20fee%20determined%20by%20this%20law.\" target=\"_blank\" rel=\"noopener noreferrer\">The property tax is a tax credit example for it is determined by law and it&#8217;s a fee determined by this law.<\/a><\/span><\/h3>\n<h2><strong><span style=\"color: #02afa0;\"><em>To realize a charge the following is needed:<\/em><\/span><\/strong><\/h2>\n<p><span style=\"color: #000000;\">\u27b2 ID and location<\/span><\/p>\n<p><span style=\"color: #000000;\">\u27b2 Name, business name of the debtor and, if needed, of the legal representative.<\/span><\/p>\n<p><span style=\"color: #000000;\">\u27b2 RFC (Federal Taxpayer Registry) number of the debtor with its &#8220;homoclave&#8221; (differential code)<\/span><\/p>\n<p><span style=\"color: #000000;\">\u27b2 Debtor&#8217;s full address: street, number, neighborhood, city, state, zip code, district or town.<\/span><\/p>\n<h5><em><span style=\"color: #02afa0;\"><strong>* An original or a certified copy of the tax credit document must be sent.<\/strong><\/span><\/em><\/h5>\n<p><span style=\"color: #000000;\">If the authority that issues this has more data that allows the location of the debtor, in case of considering it relevant, will provide it to the SAT (Secretary of Finance) officers or the States, depending on the case.<\/span><\/p>\n<h3><span style=\"color: #02afa0;\"><strong>To determine a tax credit, this procedure will follow:<\/strong><\/span><\/h3>\n<ol>\n<li><span style=\"color: #000000;\">Contact the officer or authority who determines the tax credit.<\/span><\/li>\n<li><span style=\"color: #000000;\">Have the legal tax credit document, with the signature of the officer who authorized it, in an original or a certified copy.<\/span><\/li>\n<li><span style=\"color: #000000;\">Resolution number.<\/span><\/li>\n<li><span style=\"color: #000000;\">Date of the tax credit approval.<\/span><\/li>\n<li><span style=\"color: #000000;\">The term(s) that the tax credit was originated for.<\/span><\/li>\n<li><span style=\"color: #000000;\">Tax credit figures, its equivalent in Mexican pesos.<\/span><\/li>\n<li><span style=\"color: #000000;\">Date the payment should&#8217;ve been covered. It doesn&#8217;t apply to fines.<\/span><\/li>\n<li><span style=\"color: #000000;\">Specify in the tax credit document, the exact destination when it involves non-tax administrative fines.<\/span><\/li>\n<li><span style=\"color: #000000;\">Expiration or legal termination date.<\/span><\/li>\n<li><span style=\"color: #000000;\">Notices and subpoena evidence, if required, an original of the tax credit document or a certified copy.<\/span><\/li>\n<\/ol>\n<h3 style=\"text-align: center;\"><span style=\"color: #02afa0;\">Legal and Accounting Consultancy in Playa del Carmen<\/span><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>A very relevant concept in the tax area is the tax credit, it must be understood as the income that the State has the right of in its public right functions that come from taxes, exploits or accessories. In other words, tax credits are the rights of charges in favor of the State, or debt [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":8181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-8573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accountant"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is a tax credit? - QuAdrans law and finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"What is a tax credit? - QuAdrans law and finance\" \/>\n<meta name=\"twitter:description\" content=\"A very relevant concept in the tax area is the tax credit, it must be understood as the income that the State has the right of in its public right functions that come from taxes, exploits or accessories. In other words, tax credits are the rights of charges in favor of the State, or debt [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/quadranslawandfinance.com\/wp-content\/uploads\/2018\/03\/que-es-un-credito-fiscal-y-como-se-determina.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@QuAdrans_\" \/>\n<meta name=\"twitter:site\" content=\"@QuAdrans_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Redacci\u00f3n QuAdrans\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/\"},\"author\":{\"name\":\"Redacci\u00f3n QuAdrans\",\"@id\":\"https:\/\/quadranslawandfinance.com\/#\/schema\/person\/1e795a3d0e6c3e3c5d0ba2f035562767\"},\"headline\":\"What is a tax credit?\",\"datePublished\":\"2018-04-30T21:49:37+00:00\",\"dateModified\":\"2020-05-28T18:12:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/\"},\"wordCount\":466,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/quadranslawandfinance.com\/wp-content\/uploads\/2018\/03\/que-es-un-credito-fiscal-y-como-se-determina.jpg\",\"articleSection\":[\"Accountants\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/\",\"url\":\"https:\/\/quadranslawandfinance.com\/en\/blog\/what-is-a-tax-credit\/\",\"name\":\"What is a tax credit? 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