Without taxes, this is how they pay you the SAT Good End Tax Draw

For example, if during this season of offers, you bought a screen for 10,000 pesos at 6 monthly payments, and you won in the Fiscal Draw, your bank will cancel the debt that you have generated by this purchase, that is, it will restore your line of credit for the 10,000 pesos, additionally, no tax payment, federal or state, will be generated, as would happen if you won a prize from the National Lottery, explained Jesús Guillermo Mendieta González Member of the Technical Commission on Tax Audit of the College of Public Accountants of Mexico.

The bank does not mean that you take out your money and then the bank returns it to you and pays it to you, not simply and plainly the bank tells you about it.

“It is not that the bank pays you that money, simply and plainly the bank tells you, from the line of credit that you took out when you bought the inch screen, I will pay you because you were drawn, and I will restore your line of credit again, yes Your line of credit was 100,000 pesos and you bought the TV for 10,000, your line of credit was 90,000 pesos, but since you were drawn, I will pay you your 10,000 and then again it restores your line of credit to 100,000 pesos,” explained Mendieta.

Additionally, as a fiscal stimulus, the SAT will exempt from the payment of ISR to financial institutions the amounts corresponding to the lines of credit that it returned to the winners of the draw, added the accountant.

Bag of 500 million pesos in prizes

According to the head of the SAT, Antonio Martínez Dagnino, in this edition of the Buen Fin Fiscal Draw, a bag of 500 million pesos in prizes was distributed among participating consumers and businesses.

In total, 321,260 prizes will be awarded to consumers who made purchases of 250 pesos, which range from 500 to 20,000 pesos, with a grand prize of 250,000 pesos, which adds up to 400 million pesos to be distributed. For participating businesses, 4,987 prizes of 20,000 pesos will be awarded, equivalent to a purse of 100 million pesos and a grand prize of 260,000 pesos, highlighted the tax authority.

Octavio de la Torre de Stéffano, president of the Confederation of National Chambers of Commerce, Services and Tourism (CONCANACO SERVYTUR), reported that El Buen Fin 2024 exceeded expectations with the participation of more than 190,000 businesses and an economic benefit of more than 172,900 million pesos, which represented an increase of 16.2% compared to the 2023 edition. In addition, six of each 10 companies registered an increase in their sales of up to 20% and the best sellers were electronics and technology items.

Diego Cosío Barto, president of the National Association of Self-Service and Department Stores (ANTAD), announced that in this Buen Fin they had the highest sales volume, reaching more than 44,000 million pesos in four days, that is, 9.8% more compared to 2023. Also, it reported that during the referred period, more than 28 million visits were registered in physical stores and more than 110 million on-line.

Vidal Llerenas, Undersecretary of Industry and Commerce of the Ministry of Economy, reiterated that this program is an effort of many years to favor small businesses and companies that are in order, as well as a stimulus from the authorities to support these businesses in benefit of the national economy.