The Mexican government has determined that financial institutions must deliver the personal information of their clients, in order to be able to supervise and locate the taxpayers.
Banks and lending institutions have the obligation to request their account holders the email, telephone number or other means of personal contact to deliver them to the Tax Administration Service (SAT).
The Presidency of the Republic asked the Chamber of Representatives to modify the Fiscal Code of the Federation, as part of the 2020 fiscal package, to include this measure.
This seeks to counteract taxpayers delivering false contact information to the SAT, to avoid being notified of fines and tax procedures, and so they cannot argue that they were never contacted.
“When a taxpayer registers incorrect or non-existent means of contact, it is understood that he opposes the notification of promotions, requests, notices, compliance with requirements and inquiries of the SAT”, says the proposal sent by the federal government to the national banking institutions.
Currently the banking institutions are not obliged to deliver to the SAT email or telephone number of their users, but only the address and the Federal Taxpayers Registry (RFC), but this situation is intended to change.
“The Financial Institutions and Cooperative Savings and Loan Societies (Sociedades Cooperativas de Ahorro y Préstamo: Socap) must obtain from their account holders email, telephone number or some other means of electronic contact determined by the SAT”, indicates the initiative.
When a registration is made with the SAT, taxpayers provide general data, and with this new measure “identity data can be aligned with respect to registered taxpayers, through the Financial Entities and Socaps,” the document says.
The data that must be collected by the banking institutions includes: full name, nationality, residence, date and place of birth, address, phone number and email.
“When the approved forms require such information, financial institutions and Socaps must provide it to the SAT”, indicates one of the paragraphs proposed by the Presidency of the Republic through the initiative that involves modifying section V of the Article 32-B of the Federal Tax Code.
The Yucatan Times Newsroom