Sell and buy used cars or new is an activity that is regulated by the Tax Administration Service (SAT), in case you are the seller, it is necessary that you notify the institution since otherwise you could be entitled to a moresurcharges or audits, which could affect your credit history.
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What is the fine for not notifying the SAT of the sale or purchase of a car?
Failure to keep the institution informed of these transactions can make you creditor to fines ranging from 1,400 to 17,370 pesos, according to the Federal Tax Code.
When the sale is made between individuals, it must be notified in the annual return, even when you are not registered in the Federal Taxpayer Registry (RFC), if this is the case, you must register.
If the sale is to a company, there is no tax charge, as long as the transaction does not exceed 175 thousand pesos, which is the maximum deductible amount. The recommended thing to avoid fines and extra payments is precisely to make the sale with a Moral person.
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In the event that you are the buyer, you will only have to deduct the purchase of the car from your declaration. If you are within the fee regime, business activity or incorporation fiscalyour limit will be a maximum of 175 thousand pesos.
This applies only when the transaction is with a company, because when making the purchase with a natural person, you will not be able to receive an invoice.
In accordance with the Anti-Money Laundering Law, any transaction that is carried out for more than 250 thousand pesos will be subject to a review by the SAT.
The New Car Tax (ISAN) rates for buying a new car are:
- New cars with a value of less than 313 thousand 163 pesos are exempt from this tax
- Cars whose price is between 313,163 pesos or 375,795 pesos, the rate will be 1,263 pesos
- Vehicles whose price is between 439,438 pesos, will have to pay the SAT a fee of 1,294 pesos.
Avoid being sanctioned, if you sell your new or used car, do not forget to notify the SAT.