If you are organized or are in a group, then the way to save and be able to get an interest-free loan on a term that is normally 10 weeks is known, you must declare the income and pay the corresponding taxes, specified by The Tax Administration (SAT).
Namely, Since the money received as a result of the party is a new income, it is necessary for the SAT to consider it through your bank statement, as well as if you are the one who organizes the savings, the income of each member must be reported.
According to the Agency’s website, the purpose of submitting income to SAT is to certify annual compliance with tax obligations by presenting provisional or definitive federal tax returns, which include income information, deductions, documents and activities through this portal.
According to Savings study in Mexico, den 22 percent of the population over the age of 18 save through parties with family, friends or acquaintances who organize this instrument and in general, 35 percent of the adult population used an informal instrument, equivalent to 27.6 million adults.
Eighteen percent of the adult population used two informal instruments, which included 14.3 million adults; and 10 percent used three or more instruments of this type, reaching 8.1 million adults.
At the same time, the 2021 economic inclusion outlook for National Banking and Securities Commission (CNBV) highlighted it less than 20 percent of the population between the ages of 18 and 29 formally save; of the range between 30 and 39 years, they hold 23 and between 40 to 49 years 21 percent.
People turn to this instrument to manage debts, family commitments, travel, shopping, home repairs or buying a car. Savings through this instrument can range from one thousand to 50 thousand pesos.
Can I declare my income from a party?
Yes, SAT has a section so that you as a taxpayer can register the income for “Tanda”, go to the agency’s official website with RFC and the corresponding password, after which you proceed to the following:
Internet services are selected and the procedure for “declarations”.
The information requested by the site is entered
Add your extraordinary income, which in this case must be indicated by the term “batch”
Click on “send statement”
With media information