What Is the Annual Tax Return?
The annual tax return (Declaración Anual) is the yearly filing that individuals submit to Mexico's tax authority (SAT) to report their total income, deductible expenses, and taxes paid during the fiscal year. For fiscal year 2024, the filing deadline is April 30, 2025.
Who Must File?
Individuals in Mexico are required to file an annual return if they:
- Earned more than $400,000 MXN in wages from a single employer.
- Had two or more employers throughout the year.
- Received income from professional fees, business activities, or rental income.
- Received income from foreign sources.
- Are enrolled in the RESICO simplified tax regime.
Key Personal Deductions
The SAT allows individuals to deduct specific personal expenses to reduce their taxable income:
Medical and Health Expenses
- Physician, dental, and hospital fees
- Purchase or rental of assistive devices for people with disabilities
- Major medical expense insurance premiums
- Prescription eyeglasses
Education Expenses
- Private school tuition from preschool through high school (subject to per-level limits)
- Mandatory school transportation fees
Other Deductible Expenses
- Real mortgage interest payments
- Donations to SAT-authorized nonprofit organizations (up to 7% of accumulated income)
- Voluntary retirement savings contributions to AFORE or personal retirement plans
- Funeral expenses for immediate family members
How to File Your Return
- Visit the SAT portal: sat.gob.mx
- Log in with your RFC and password or e.firma (digital signature)
- Navigate to "Declaración Anual" under the Individuals section
- Review the pre-filled data from your CFDI records
- Enter your personal deductions with supporting digital receipts (CFDIs)
- Submit your return and download your acknowledgment receipt
Tips from SOLPROAM
Filing your annual return correctly can mean the difference between a tax bill and a refund. At SOLPROAM, we help individuals and businesses optimize their annual filings within the legal framework — maximizing deductions and minimizing the risk of SAT inquiries. Contact us for a no-cost review of your tax situation.