To answer that question, firstly, we need to know that the tax refund is a procedure that allows any natural or legal person to recover the balance in favor if they had it for taxes. This occurs when the corresponding declaration of the fiscal year is made, and it is discovered that the payments have been more significant than the debt.

In these cases, the SAT, which is the entity in charge of taxes in the country, allows you to request a refund corresponding to previous years (ISR, VAT, IEPS, among others). This article will explain everything you need to know to ask for your tax refund from the SAT.

What is the annual tax return?

The annual declaration is the obligatory procedure that must be carried out in Mexico to inform the SAT about the income and expenses they had in the previous fiscal year. Generally, this return summarizes the economic activities a taxpayer carried out during the fiscal year.

This statement is intended to calculate the amount of tax you must pay or, in this case, the tax refund that corresponds to you. The annual tax return must be submitted within the deadlines established by the SAT.

What are the requirements to request a tax refund from the SAT?

To request the refund corresponding to the SAT, it is necessary to meet specific requirements and present the related documentation. Below, we offer the main conditions:

• To have an updated and current Federal Taxpayer Registry (RFC).
• To have e.firma, your digital identification to complete procedures through the SAT portal. It must be up-to-date and current.
• Personal and fiscal data for confirmation.
• Submission of the annual tax return corresponding to the fiscal year where the credit balance was generated.
• The bank account information where you want to receive the refund.
• Deliver the documents that prove the balance in favor, such as the receipt of the declaration or any other document that justifies it. This information must be in .zip format.

The requirements may vary depending on the legal entity, the type of tax, and the amount to be returned. For this reason, it is recommended that you consult directly with the SAT or a tax advisor to obtain more precise and detailed guidance on requesting the corresponding returns.

What are the steps to follow to request a refund?

To request a refund, you must:

• Verify that you have a credit balance. To do this, you need to review the tax return for the corresponding fiscal year and check if you have a credit balance.
• Access the SAT website. Enter the SAT with your e.firma.
• Enter tax and personal data. Once inside the portal, you must provide the tax and personal information requested, including the bank account details where you want to receive the refund.
• Add the return information. You must add the return information, such as the amount to be returned and the corresponding fiscal period.
• Attach the required documentation. Now attach the documentation that proves the balance in favor, such as the receipt of the annual tax declaration or any other document that justifies it.
• Submit the application. Once all the previous steps have been completed, you must apply for the SAT. Keep your electronic acknowledgment as proof that you made the request.

The SAT will review the application and the attached documentation; If you need more documents or information, you may need them to complete the process. If the request is approved, the SAT will proceed to refund the money to the bank account provided by the taxpayer within no more than 40 days.

How can I find out if I am entitled to a tax refund?

To find out if you are entitled to request a tax refund, you must review the tax return of previous years, up to a maximum of 5 years. If there was a balance in your recovery, that is, if you paid more taxes than you were entitled to, you could request a refund of the corresponding money.

This request must be made within the deadlines established by the SAT; If you have doubts about your tax situation and are entitled to this refund, you can contact the SAT directly to receive guidance in the application process. You can also contact us at PCP Consultores. We are tax advisors who can help you with your returns. Contact us!