Overview
- The SAT states there is no current levy or withholding on cash deposits, and recent claims of a new charge are unfounded.
- Banks must report to the SAT when individual or cumulative cash deposits exceed 15,000 MXN in a month.
- A report from a bank does not create a tax debt; it gives the SAT grounds to review movements and request documentation or conduct audits.
- Mexico’s former 3% cash‑deposit tax was in effect from 2008 to 2013 and is no longer applicable.
- Experts advise keeping receipts, contracts or invoices and using clear transfer descriptions to document the source of funds.