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What are the differences between the SAT and Ministry of Finance?

in Mexico Institutions set up to provide advice, accompaniment, information and sometimes collection of citizensIt’s important to know the function…

By admin , in news , at May 13, 2022 Tags: , ,

in Mexico Institutions set up to provide advice, accompaniment, information and sometimes collection of citizensIt’s important to know the function of each of these, as they’ll be where you go when you need to do an official process, or who will have to answer Violation of any right or law in force in the country.

in the matter of the collection of taxes and their distribution, as well as in relation to the application of law tax and financial crimesThere are a variety of government entities to work with the people of Mexico in carrying out their procedures, as well as to guide them in those processes. bound to execute and in the application of law in favor of citizenship.

There are two entities that are in most cases confused by citizens, however, although they are both linked in the collection of taxes and enforcing laws in fiscal terms, both have different powers and are responsible for setting up those functions. What sets them apart are those of the Tax Administration Service (SAT) and the Ministry of Finance and Public Credit (SHCP).

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What is the SAT?

Tax Administration Service (SAT)was born in Mexico in the year 1997 and is in charge of making his contribution by the Mexican people with respect to the provisions taxes and customsor sean natural or legal person, Apart from preparing the necessary tools so that the taxpayers can complete their financial year in a simple manner.

Tax Administration Service is a decentralized body Mexico’s Ministry of Finance and Public Debt, which means it is independent of SHCP and in addition, it has Autonomous Competencies and Faculties, However, in the end it works under the command of the Ministry of Finance.

It has the character of a fiscal authority and is responsible for enforcing the law.tax and customs law for the purpose that natural and legal persons contribute proportionately and reasonable for public expenditure.

The organization was created to achieve the application of the country’s tax and customs policy, so as to have a favorable impact on public spending financingFor this reason, it enjoys technical autonomy to determine its proposals, in addition to collecting federal tax.

The main objective since its creation is that natural and legal persons contribute public spending, However, its mission is to manage tax collection processes as well as entry and exit at the federal level. goods from Mexican national territory,

But apart from that function, it also accomplishes others like:

  • Direct inspection and customs services.
  • Monitor and ensure effective compliance of tax and customs provisions and, where appropriate, exercise the powers of verification granted.
  • Determine, liquidate and collect contributions, federal uses and their goods when they are to be exercised by tax and customs authorities in accordance with international treaties to which Mexico is a party.
  • Obtain information necessary for the origin of taxpayers’ income, as well as the fulfillment of financial obligations.
  • Request and provide other public bodies and institutions, both national and foreign, with access to relevant information to prevent tax evasion.

What is the Ministry of Finance and Public Debt?

Finance and Public Debt Secretariat Its mission is to propose, direct, and control federal government policy in financial, financial, spending, income and public debt matters, with the aim of building a country with quality, equitable, inclusive and sustained economic growth, which is well strengthened. Does – be Mexican people.

“Our vision is to become an advanced, efficient and highly productive institution in the management and administration of public finance, which participates in the creation of a solid country where every Mexican family enjoys a better quality of life”, indicates the dependence of your of website.

Among the most important functions, it is he who will collect the tax in the country, so that the project and Calculate income or expense Of federal governmentAlso keep an eye on the banking system.

It is made up of three Under Secretaries of Treasury and Public Debt, Income and Expenditure, Federal Tax Attorney’s Office and Federal Treasuryas well as 17 dependent, decentralized bodies and institutions, of which service tax administration And this National Baking and Stock Commission,

Similarly, with respect to the financial sector, the SHCP is one of the government entities responsible for new control proposals in the federal government’s financial policy. public revenue and debtLikewise, it coordinates to work and to conduct statistical and informational studies to promote quality growth of the Mexican economy.

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What will remain this way, the SHCP is a centralized dependency of the federal government, which is in charge of Proposing, directing and managing the public finances of Mexico, Its responsibilities are so vast that it decides to delegate activities to other instances, which may be the SAT, which will act as a body dependent on the Treasury.

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What are the differences between the SAT and Ministry of Finance?

2022-05-13 19:08:54