Mexico's SAT Offers Tax Return Simulator for 2024

Mexico's Tax Administration Service (SAT) has launched a simulator for the annual tax return, allowing taxpayers to preview their fiscal information and prepare for potential payments or refunds. This tool mirrors the actual filing process but lacks the 'submit' option, providing valuable insights for the real transaction. To access the simulator, visit the official SAT website, navigate to 'RFC procedures,' and then select the 'simulator of economic activities and fiscal obligations questionnaire.' Users must enter their Federal Taxpayers Registry (RFC) and password or e.firma for authentication. The simulator pre-loads salary information, which can be modified as needed. It also allows users to add and carefully review invoice cuts for the 2024 annual return. The simulator includes a 'salaries and assimilated' option, displaying cumulative and exempt income, employment subsidies, and retained taxes. The process continues with personal deductions, where users can verify invoices considered within the declaration exercise. Finally, the simulator determines the Income Tax (ISR) and provides informative data, indicating potential balances in favor. This simulator serves as an exercise for taxpayers to avoid errors when filing their actual annual tax return.