New MTU Measures and Updated Sensitive Concepts List
In recent weeks, the implementation of the Monto Transaccional del Usuario (MTU) has been launched with the aim of reducing crimes such as money laundering and fraud. Alongside this measure, the Servicio de Administración Tributaria (SAT) has updated the list of concepts that can trigger alerts from tax authorities.
Prohibited Concepts in Bank Transfers
The concept in a bank transfer is determined by the user when making it; this can be established in a field describing the reason for the transfer or left blank. In light of this, the tax authority has updated the list of sensitive words that, if used in a transfer concept, can generate alerts and possible investigations into users.
- Laura Becerra, a public accountant specializing in finance and the financial system, explains that concepts to avoid are those that, as a joke or among friends, do not reflect the actual purpose of the transaction and could signify illicit activity.
- Concepts to avoid include threats, apologia of crimes like murder, drugs, robberies, kidnappings, or fraud; nicknames or unusual names, threats, coded messages, or emojis.
- Roberto Colín, a member of the Mexican Public Accountants College, recommends avoiding ambiguous expressions like “various payments,” “payroll,” or “fees” as they could be interpreted as transactions subject to tax declaration or payment.
What Happens if No Concept is Provided?
Although writing a concept for each transfer may seem tedious, Becerra emphasizes that it is crucial to avoid raising suspicion from tax authorities. Moreover, in case of requirement, it will facilitate the identification of the money’s origin and destination.
“Especially in significant transfers, it is vital for users to explain why they are moving the money. If the SAT requests verification of that transfer, it will be easier if there are receipts or justifications explaining the purpose of the payment,” Becerra states.
Consequences of Using Prohibited Concepts
Although using inappropriate concepts in transfers does not guarantee tax authorities will act against users, both experts warn that frequently using sensitive words in large transfers can lead authorities to thoroughly investigate a taxpayer’s accounts.
- Consequences can range from a SAT audit, needing to explain the money’s origin, freezing accounts during UIF investigation, as well as economic sanctions.
- In lower-amount transfers, the SAT may send a warning through the tax mailbox, alerting the taxpayer of inappropriate behavior.
Best Practices for Bank Transfers
Both specialists recommend always describing the transfer’s purpose as clearly and explicitly as possible, even when it involves tax declaration or higher tax payment.
It’s important to note that these rules apply for SPEI, Dimo, CoDi, and digital banking transfers between multiple banks and fintech companies.
Key Questions and Answers
- What is MTU? The Monto Transaccional del Usuario (MTU) is a new measure implemented by the SAT to decrease crimes like money laundering and fraud.
- Why should I avoid certain words in transfer concepts? Using sensitive words can trigger alerts from tax authorities, potentially leading to investigations.
- What happens if I don’t include a concept in my transfer? While not mandatory, providing a concept can prevent suspicion from tax authorities and help identify the transfer’s origin and purpose.
- What are the consequences of using prohibited concepts? Consequences can range from SAT audits to economic sanctions, depending on the severity and frequency of inappropriate word usage.
