From the second half of this year, Tax Administration Services (SAT in spanish) will launch the application of electronic audits to control taxpayers, increase tax collection, prevent evasion acts and deception to treasury.
Here are five things you should know about this new system:
• Legal entities and individuals with business activity are subjects for electronic reviews.
• An electronic audit has the same purpose as face-to-face modality: checking your accounts looking for discrepancies. Before sending whatever authorities require, consult to your accountant or tax lawyer.
• The only official SAT requirements are coming to a Tax mailbox. Remember, after three days since the notification has been delivered, SAT assumes you are already aware.
• MSMEs (Micro, Small and Medium Enterprises) are the most affected, they not always count with tax mechanisms, systems or protocols necessary to report properly their tax return, as SAT requires.
• In case of any differences, abuses or supposed irregularities during the implementation of audits, the Office of Taxpayer Advocate (Prodecon) will provide support and consulting services to those whom have been subjects of that kind of scheme.