Mexico: Updated platform for filing monthly VAT returns
New format includes preloaded information based on the amounts of the e-invoices (CFDIs) issued and received
The Mexican tax administration service (SAT) on 1 February 2024 updated its platform for the filing of the monthly value added tax (VAT) return for entities in the general regime.
This new format includes preloaded information based on the amounts of the e-invoices (CFDIs) issued and received in the calendar month to which the VAT return corresponds, with payment method “payment in one installment (PUE),” as well as in the payment complements issued and received in the same month.
CFDIs issued with a PUE payment method must correspond to those that are effectively collected and paid no later than the last day of the calendar month in which the tax invoice was issued. Likewise, according to rule 2.7.1.32 of the miscellaneous rules, the deadline for the issuance of the payment complement is the fifth calendar day of the month immediately following the month to which the payment is received.
This new measure will provide taxpayers a draft version of the monthly VAT return with the data that, according to CFDIs, will correspond to the payments effectively collected or made during the month. It is worth mentioning that as of today, all the information can be manually modified by the taxpayers directly in the SAT’s platform.
However, as there could be some differences, each taxpayer needs to carry out a detailed reconciliation between the preloaded information provided by the SAT and the VAT calculation companies prepare, as SAT likely will issue tax notices and invitations letters to clarify any potential differences.
KPMG observation
With the use of technology and data, SAT is focusing on automating the monthly VAT returns calculation. Although the information may be edited, companies need to implement internal tax controls through tax transformation and technology for the issuance and receipt of CFDIs and payment complements, to avoid differences between what is preloaded by the authority and what is effectively informed in the VAT returns.
For more information, contact a KPMG tax professional in Mexico:
Antonio Zuazua | azuazua@kpmg.com.mx