The Mexican company, Frinnert, has designed an innovative digital tax analysis platform to avoid errors in ads shown on the Tax Administration Service (SAT), the company specializing in accounting, administrative and tax matters that were reported on Monday.
Nine out of ten individuals and companies commit errors in their tax processes due to omissions, ignorance, or failure to update, which could put their assets at risk, which the new digital platform for tax analysis will avoid.
Mistakes can create differences between income and expenses that taxpayers record in the SAT, and if not dealt with in time, they can lead to penalties by the IRS.
Penalties vary from 55% to 75% of deleted contributions, explained Luz María Méndez, co-founder of Frinnert, a company with more than 25 years of experience.
In the first semester of 2020 alone, SAT submitted 218,332 requests to taxpayers to monitor compliance with their obligations.
In the same period, even with the pandemic, the Treasury Department implemented more than 19 million checks on liabilities to taxpayers (including requirements, letters, cancellation of stamps, deep surveillance, calls and visits, among others).
Digital transformation and technological advancement allow taxpayers to obtain easy-to-access, secure and flexible solutions that give them greater visibility and control over their tax processes, Mendes said.
An example of this is SIAC, the Management and Accounting Information System, which contains smart robots trained to communicate with the SAT, analyze tax information and notify its users if there is any modification and / or clarification required to obtain assurance that you are up to date with the payment of contributions.
Luz María Méndez added: “SIAC is the best platform for tax analysis, which, by combining technology with multiple layers of security, has great power. Innovation and digital transformation provide simpler, more comfortable and secure solutions, even in tax areas.”
During 2019, SAT carried out 68,500 company inspections. In the first six months of 2020, it implemented about 37,000 similar procedures.
It is precisely derived from the discrepancies the IRS discovers before taxpayers can correct them, and up until that point they begin to see how they can clarify their situation with the Treasury.