Fiscal Credit

This time, we will study one of the most relevant concepts in the fiscal matter; we talk about the “fiscal credit”.

A fiscal credit is an amount that arises from the breach or omission of the payment of an obligation that a taxpayer has regarding the State. Put simply, taxpayers are compelled to comply with the payment of contributions imposed by the authorities. The omission or non-compliance (voluntary or involuntary) of the payment of these contributions has as consequence, the imposition of a penalty, known as fiscal credit.

Notwithstanding the above, below, we describe a complete analysis of this figure.

A fiscal credit arises when the authorities in the matter have determined the tax obligation, and there is also a precise amount.

It can be said that Fiscal Credits are explicitly identified with the determination in liquid amount of a contribution, fine, surcharge, etc.

The beginning of the payment obligation starts at the moment in which the legal situations established by the Law are carried out and that generates the obligation. For example, the payment of: the Income Tax, VAT, and Property Tax, among others.

Thus, the concept we are examining today is defined by article 4 of the Federation’s Fiscal Code, as well as in article 13 of the Fiscal Code of Mexico City, and according to these articles, we can see that:

“Article 4.- Fiscal credits are those that the State or its decentralized agencies have the right to receive, that come from contributions, their accessory charges,  or uses, including those derived from responsibilities that the State has the right to demand from its officials or employees or of individuals, as well as those to whom the laws give them that character and the State has the right to receive on behalf of others.”

“ARTICLE 13.- Fiscal credits are those that are entitled to receive the Mexico City or its decentralized agencies that come from contributions, uses, their accessory charges, as well as those to which the laws give that feature and others that the Mexico City has the right to receive as a third party, and the consideration for the services provided by Mexico City in its functions of private law, for the use and disposal of its private property, in accordance with applicable regulations.”

Fiscal Credits are the collection rights in favor of the State, and these can be integrated, among others, by:

• Contributions (Income Tax, VAT, Property, Water Supply Rights)

• Surcharges

• Sanctions (fines)

• Execution expenses

• Compensation for returned checks.

To deepen the study of the laws, in accordance with the provisions of the first paragraph of article 6 of the Fiscal Code of the Federation, as well as in the first paragraph of article 28, of the Fiscal Code of Mexico City, the fiscal obligation arises when legal or de facto situations established in the tax provisions are carried out, which will be determined and liquidated in accordance with the provisions in force at the time it began, but the procedural rules that are subsequently issued will apply. That is, FOR A TAX OBLIGATION TO BE CAUSED OR ARISE, THE FACT, OR SITUATION PROVIDED BY THE RESPECTIVE TAX LAW MUST BE MADE.

Thus, in a nutshell, the fiscal credit is a debt owed to the State and that arises from what is stated in the tax laws, for example; The property tax can be considered a tax credit since it is determined and the amount specified in the law.

If you or your company have fiscal credits in charge and are causing problems, ask for advice, we have the solution to your contingencies.

LEGAL NOTICE

The main purpose of this information is to provide guidance to the general public. It does not replace the provisions of applicable law. Nor does it replace the specialized legal advice or consultancy that can be offered by any of the lawyers and/or accountants of Bandala | Díaz | García