Tax incentives will be given to institutions that issue cards for the Buen Fin

Mexico City. Financial authorities will grant tax incentives to institutions that issue debit and credit cards and to companies that provide digital payment infrastructure that participate during the next Buen Fin and whose systems help consumers win the draw held each year by the Tax Administration Service (SAT).

The above was announced through the Official Gazette of the Federation (DOF), where a decree was published granting tax incentives to encourage the use of electronic payment methods.

“A tax incentive is granted to financial institutions and other entities that issue cards or through entities participating in payment media networks that provide infrastructure or point-of-sale terminals and services to recipients of payments with credit or debit cards,” the document states.

According to the decree, “said tax incentive consists of crediting against the income tax, either one’s own or the tax withheld from third parties for this tax.” It should be noted that every year, during the Buen Fin, a raffle is held in which prizes are awarded to companies and individuals who have made purchases with cards in previously registered establishments.

Thus, the incentive will be applicable to individual cardholders when they have used credit or debit cards as a means of payment to purchase goods or services during the period from November 15 to 18, 2024, to individuals or legal entities registered on the El Buen Fin internet portal, and provided that the aforementioned cardholders have been winners in the SAT draw.

Incentives will also be applied to individuals or legal entities that sell goods or provide services and receive credit or debit cards as payment methods during the Buen Fin, whose accumulated income in the immediately preceding fiscal year has not exceeded five million pesos.

“In order to access the benefits of the tax incentive referred to in this decree, financial institutions and other entities indicated must adhere to the bases, terms and conditions of participation established by the SAT for the El Buen Fin raffle and must make available to the SAT the information necessary for the realization of the raffle and to verify the mandatory delivery of prize payments to each winner,” adds the DOF decree.