Overview
- In a Jan. 15 communiqué, the tax authority stated that informal rotating savings known as tandas are not, and will not be, a target of fiscalization, with no program or subprogram to audit them.
- The SAT said publications warning of fines or sanctions for participating in tandas lack legal basis, noting the practice does not create a tax by itself.
- Responding to new rumors, the SAT denied having any extraordinary power to immobilize accounts en masse, said it does not ramp up audits in January, and emphasized that any immobilization follows legal procedures rather than immediate action.
- Experts and the SAT reiterated that banks must report certain cash deposits, commonly above about 15,000 pesos, and that accounts operate under Banxico’s tiered limits, which can trigger alerts based on a customer’s transaction profile without automatic penalties.
- Authorities urged the public to consult official channels for guidance, as informal saving remains widespread in Mexico according to national financial inclusion surveys.