The SAT Invitation letters They are communication tools used by the tax authority in Mexico to invite taxpayers to correct their tax situation before initiating a formal audit or review procedure.
Receiving an invitation letter from the SAT should not be a cause for panic, but it is important to take it seriously and act in a timely manner.
Here are some steps to handle this situation effectively:
1. Read the letter carefully
Review the letter in detail to understand any inconsistencies or discrepancies noted by the SAT. Identifies the type of invitation letter and the fiscal periods to which it refers.
Some of the most frequent reasons:
- Discrepancy between income and expenses.
- Omitted income.
- Inconsistencies in VAT.
- Inconsistencies in withholdings.
- Omitted statements.
- Differences in informative statements.
- Omitted or incomplete payments.
- Unjustified bank movements.
- Arithmetic or administrative errors.
- Inconsistencies in electronic billing.
2. Gather all the necessary documentation
At this point you may need to obtain XML lists issued and received, tax returns, bank statements, as well as meeting minutes, contracts and any other related documentation.
3. Verify the information
Once you understand the differences detected by the authority and the supporting documentation, you must review said information to make possible corrections and/or clarifications pertinent to the authority.
4. Correct your statements if necessary
If differences are determined by the authority, you will have to correct said situation by paying the omitted tax plus the corresponding updates and surcharges.
5. Respond to the letter
The letter must be responded to through MY SAT portal, accompanied by a free writing giving a detailed explanation of the procedures carried out, a list of documentation that accompanies the writing and any information that is considered pertinent.
6. Seek professional advice
If you are not a specialist in the matter, we recommend that you seek specialized advice to avoid possible future contingencies.
7. Maintain good communication with the SAT
If additional time is required, we suggest you send the progress and, if applicable, payments made, requesting more time from the authority to complete the review, as well as possible clarifications.
8. Learn from experience
Correct the situation that resulted in the invitation letter and review other periods to make the pertinent corrections.
Conclusions
It is essential to maintain an accurate and updated record of all tax operations to avoid discrepancies with the SAT. If you receive an invitation letter, carefully review the areas mentioned and take the necessary measures to correct any inconsistencies.
The advice of an accounting professional can be invaluable in these cases to ensure proper compliance with your tax obligations.
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