Have you heard about the VAT refund?

Sep 9, 2022 | VAT | 0 comments

Have you ever heard of a VAT refund before? This is the tax that the Tax Agency levies for the benefit of an individual or a company. Those who are obliged to pay VAT must calculate on their own what will be paid to the Treasury or what will be refunded to them if there is a balance in their favor.


How to calculate the VAT refund?

In order to calculate the return it is necessary to have the information of the purchases and sales made in the month, especially when we are talking about large companies or every three months if we are talking about small and medium-sized companies or self-employed. Considering that, if the difference is of a positive nature, the payment will be made within the established period, but if the difference is negative, the result of the liquidation of the next period will have to be subtracted. In other words, if a company that in the first quarter of the year obtained more VAT from its income than from its expenses, it will have to pay the difference. However, if the VAT expense is higher than the VAT income, the result of the self-assessment will be negative. For more information, please visit our blog “Learn how the VAT refund works in Mexico”. where you will find valuable information.


How do I request a refund?

In the last quarter of the year the refund is requested when filing the liquidation under the corresponding process, but if for some reason you forget to make the request you will have to wait until the last quarter of the following year. It is worth mentioning that the amount to be compensated to companies or individuals, as the case may be, may be requested in the last quarter of any of the following four quarters. 6 months is the period of time that the tax authorities have for the refund, which is only made through bank transfer. If your company is one of those that meets certain requirements, it can apply for the refund on a monthly basis, obliging it to settle the VAT every month. However, it is a process that takes time and, above all, it occurs throughout the year every quarter, hence the importance of paying great attention and care to it. The advice of professionals is important to obtain positive results. ALCON experts can help you!Contact Us! Via WhatsApp or by e-mail. Follow us on our Facebook e Instagram Visit our Twitter for more news Connect with us by LinkedIn


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