2024-04-28 03:35:10
Here we tell you how to make your savings for retirementor they can be tax deductible before the Tax Administration Service (SAT).
Given the possible approval of the opinion that would reform seven laws to create the Pension Fund for Wellbeing for workers, below we will tell you how to make retirement savings deductible.
According to an article by PENSIONISSTE, savings can be deductible after issuing a Certificate of Tax Withholding for Voluntary Contributions.
Which, after processing, grants the following tax benefits according to the type of savings you have, such as:
- Long-term contributions: This type of savings is tax deductible in the annual return for the fiscal year to be declared. The investment must remain in your Individual Account for a minimum of 5 years for the tax deductibility stimulus to materialize.
- Retirement complementary: This type of savings investment must also remain in your Individual Account for 5 years. It is tax deductible in the annual declaration. You must continue investing until age 65.
- Long-term investment perspective: These contributions are additional to your Individual Account, with which you can complement your Retirement savings. With this type of savings you will be able to deduct your Voluntary Contributions from your cumulative income in your tax return. It must remain invested until age 65 or in case of disability or inability to carry out paid work, in accordance with social security laws).
The above, as long as you have a Personal Retirement Plan, which is a special account intended for long-term investment (retirement), in an institution authorized by the SAT, which allows users to invest in all the funds they They have a series of special benefits for those who invest through these vehicles, since they are exempt from Income Tax.
So you should consider:
- In accordance with the Income Tax Law (ISR), the amount of deductible contributions is up to 10% of cumulative income; These contributions cannot exceed the amount of $163,467 pesos voluntarily saved in 2022.
- The maximum to be deducted cannot exceed 15% of all personal deductions combined with other concepts such as donations or medical expenses. In the case of deposits in special savings accounts, the maximum amount to be deducted is 152,000 pesos in 2022.
- The tax benefit does not apply if you withdraw your voluntary contributions previously.
And for the deductions to be made in your annual return, as we mentioned before, you will only need to obtain the Tax Withholding Certificate at the nearest Public Service Center (CAP), where you have to present the following documents:
- Valid Official Identification
- Proof of address no older than 3 months
- Certificate of Federal Taxpayer Registration (RFC) issued by the SAT
Something that should be noted is that said proof will be provided to you as of December 31 of the immediately preceding year, so that you can deduct them in your Tax Return before the Tax Administration Service (SAT).
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2024-04-28 03:35:10