In the first quarter of 2020, instant billing would have come into effect; however, the “Asociación de Bancos de Mexico” (Association of Banks of Mexico) reported on February 19 of this year, its suspension, until a meeting with the Tax Administration Service (SAT) is held.

Instant billing according to what the SAT has announced, is an optional billing mechanism where, at the moment the payment is made with a credit or debit card, the invoice will be generated immediately through the Point-of-Sale Terminal (POS Terminal), whenever the customer chooses to bill instantly.

The taxpayer may consult and download its invoice through the SAT Portal with its Tax ID (RFC) and password or e-signature (XML and printed representation).

The invoices will comply with the technical standard of Annex 20 and with the fiscal requirements.

The SAT has communicated that through the instant billing, the process of obtaining the invoices will be simplified.

However, due to inaccurate information that has been circulating in different media, this measure has caused uncertainty and fear among Mexicans about the use of credit and debit cards as a means of payment; even, it has been mentioned that instant play casino is a measure to inspect all Mexicans, and that through the figure of fiscal discrepancy, the tax authority seeks to collect more taxes.

There is a fiscal discrepancy when the authority verifies that the amount of the expenses of a taxpayer; whether individual or legal entity, in a calendar year, is higher than the income declared, or higher that the amount that should have been declared.

It is important to mention that the taxpayers, who pay taxes for all the income they receive -as long as they are obliged to-, if they also pay their expenses with that income, they will have no problem.

This measure could change the culture of Mexicans, since many of us will have a better control of the income we receive and the expenses we make.

We remain at your disposition for any questions or comments in this regard.