How to declare family loans to the SAT?

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April is the time to give an account of how much money you received, how you used it, and the taxes you paid in 2023. Because it is the month in which you have to file your annual tax return with the Tax Assistance Secretariat (SAT).

In this process you must add up all your ivory coast mobile database obtained in the fiscal year and subtract all your personal deductions or approved expenses to reduce your tax payment. The Income Tax (ISR) payment is calculated based on the result of this operation. So to prepare your declaration, you must first list all your income.

Think about your salary, your company's profits, the rents you were paid, the returns on your investments, and also loans. Even if you received them from your father, sister, uncle or any of your relatives. Because if you ignore them, you could be subject to large fines.

In this article we will tell you about the consequences of not declaring these loans, how to file the declaration correctly and we will detail the steps necessary to comply with this tax obligation.


Is it necessary to declare family loans?
The most accurate answer is yes. But you have to thoroughly review article 90 of the Federal Income Tax Law, which states that individuals residing in Mexico are required to report loans from family members or financial institutions that, individually or in the sum of all loans for the fiscal year, exceed $600,000.00 MXN.