Banks Suspend Instant Billing

Banks suspend instant billing. To all those individuals and companies that are still analyzing whether or not they opt for issuing invoices instantly when paying at Point of Sale Terminals with a credit or debit card, we must tell them that they will have more time to analyze this option.

However, a few days ago it was announced that the project was suspended by banking institutions because even the Tax Administration Service has not provided solutions to improve the billing method that was intended to start during the first four months of this year.

Therefore, Bandala Díaz Garcia, is interested in taxpayers being informed about the implications of this new billing scheme so that they make a correct decision, which is why, therefore, we will mention the possible myths, realities, Advantages and disadvantages of instant billing:

• MYTH: * All the expenses made with your cards will be inspected to check if there are differences between your income and expenses. * The issuance of the instant invoice will be mandatory.

• REALITY: * Measure of facilitation and reduction of time for the taxpayer. * You will decide if you want to include the RFC; since each bank will define the procedure to incorporate it.

• ADVANTAGES: * You will no longer have to spend more time entering the necessary websites to request the invoice for the expense incurred. * The invoice can be validated through the SAT portal.

• DISADVANTAGES: * At the moment you do not get a printed invoice as we are used to, we only see a QR Code on the purchase receipt. * Billing excessive expenses that do not correspond to the line of business of each taxpayer.

Due to this new mechanism, the main uncertainty as taxpayers is the validation corresponding to the generation of our invoice, however, we can identify this through the ticket they give us when making our purchase, where we can find a printed representation of the code. QR generated, with which you can verify that the invoice has been made immediately.

On the contrary, in case you are not sure whether or not to opt for the new billing mechanism, we remind you that this is not mandatory, for this reason you can continue to apply the billing process as it is done today.

In addition to all of the above, at Bandala, Díaz, García and Asociados, we take into account the main objective of keeping our clients informed and considering that the new mechanisms that are about to take effect may cause taxpayers doubts, therefore we invite you to Come with us, follow our social networks and learn about the services we offer to keep you updated, provide you with personalized advice and answer your questions according to your needs.