The use of the credit card on a recurring basis can bring many benefits to people, but they must know the advantages and disadvantages. It is essential to know that monthly installments must always be settled before the payment date; In the same way, it is very important to know the consequences of pay it in cash.
It is common to pay the credit card with cash directly at the bank, either for convenience or security reasons, but doing it on a recurring basis could cause problems with the Tax Administration Service (SAT).
Why can you have problems with the SAT for paying your credit card in cash?
As an institution that regulates and analyzes the fiscal movements of the country, the SAT It has the power to know the movements that a taxpayer makes in their bank accounts. It is not only legal entities (companies) but also natural persons.
For some years now, banks have had the obligation to inform the SAT about the transactions that someone receives in cash from 15 thousand pesos. This does not mean that the institution will monitor each of the payments or cash transactions that you have in your bank account, but if this becomes a recurring practice, you could enter into a tax discrepancy.
When the SAT cannot corroborate the origin of the money that taxpayers have or it detects that expenses are greater than income, then it can enter into a fiscal discrepancy, this is where the institution could resort to reviewing income, declarations, expenses, etc. to know where the surplus comes from.
The person will have a period of 20 days to prove the origin of that money, otherwise they would be committing a crime and the sanctions they range from a fine to pay the excess ISR to imprisonment from three months to five years.