Mexico City, Mexico 09-May-2022 .- The Tax Administration Service (SAT) has released a series of administrative features for The primary sector of the economy—dedicated to agriculture, forestry, livestock or fishing activities— of which include non-submission of monthly and provisional declarations, as well as deduction up to a maximum of 10 percent on your income For labor expenses of temporary workers.
The Treasury explained that in the case of natural persons, whose income in the exercise under consideration does not exceed an amount of 900 thousand pesos, they may opt not to submit Monthly statement or related annual, To get this option, they have to issue electronic invoices for their actions.
Whereas those people who receive income from retirement or pension and who devote themselves exclusively to primary sector activities can pay tax Simplified Trust Arrangement (Recico) Apply the benefit of exemption from payment to individuals and to income from the said activities Income Tax (ISR),
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“Persons who are exclusively dedicated to primary sector activities and who conduct operations with legal entities shall not be subject to withholding of 1.25 percent for payments that the above legal entities have made to them, provided that their income is 900 does not exceed an amount of thousand pesos”, described the SAT in a statement.
Additionally, natural persons may make invoices and declarations through the acquirer. For legal entities, it will be possible to submit semi-annually Interim and Monthly ISR Payments and Value Added Tax (VAT),
They can also deduct from labor payment expenses. Casual farm laborers (for example, daily wage workers)Animal feed and petty expenses up to 10 percent of the total income, should not exceed 800 thousand pesos. In case of small expenses, these cannot exceed 5 thousand pesostreasury specified.
“(Furthermore), they are not obliged to submit provisional and annual ISR declarations as well as VAT in the case of ethical persons of agricultural law, when their annual income does not exceed 702 thousand 21 pesos for 2022 for each of its members,” he said.
living together should not exceed them 7 lakh 20 thousand pesos per year for this yearIncome limits do not apply to ejidos and communities. Similarly, legal entities can perform obligations related to VAT of its members.
It can also be reduced by 30 percent income tax It is determined that when companies or associations of producers, as well as other legal entities, are composed entirely of natural persons and the annual income of each partner does not exceed 14 million 847 thousand 756 pesos for 2022 without traversing the set of members For this year 148 million 477 thousand 568 pesos.
“They shall be exempted from presenting notices relating to tax information of partners, shareholders or associates, both in their RFCs and in their names, unless the tax authority requests them,” he noted.
The Treasury explained that both individuals and companies in the primary sector can deduct fuel expenses incurred by any means other than a nominal check from the taxpayer’s account, SAT. credit card, debit card or services or electronic wallet authorized byuntil they are more 15 percent of the total payment fuel consumption.
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Finally, the SAT pointed out that receiving federal, state, municipal, or any other form of government aid does not count as income within Resico for the maximum allowed amount. 3 lakh 500 thousand pesos Nor should it be exempted from payment of ISR when income from primary activities does not exceed 900 thousand pesos per year.