Loans to employees

May 26, 2017

The loan is the action of providing a good or benefit to those who need it to achieve some objective or purpose, this under some agreement or set of terms to proceed to such action.

When a company grants loans to workers, partners or shareholders and is not payroll advances, or profit sharing, if not commitments to repay the loan gradually, this transaction must be considered fiscally . Since otherwise it would appear that the worker is getting undeclared income, which could be misinterpreted, when in reality only receives a loan, and later the company seems to be having an income on which does not issue a voucher, when actually that Income is only the payment of a loan.

For which it is necessary to have a fiscal voucher; Let us know the details about it.

Article 27 section VII of the Income Tax Act (LISR) states the following;

Cuando el contribuyente otorgue préstamos a terceros, a sus trabajadores o a sus funcionarios, o a sus socios o accionistas, sólo serán deducibles los intereses que se devenguen de capitales tomados en préstamos hasta por el monto de la tasa más baja de los intereses estipulados en los préstamos a terceros, a sus trabajadores o a sus socios o accionistas, en la porción del préstamo que se hubiera hecho a éstos y expida y entregue comprobante fiscal a quienes haya otorgado el préstamo; los cuales podrán utilizarse como constancia de recibo si en alguna de estas operaciones no se estipularan intereses, no procederá la deducción respecto al monto proporcional de los prestamos hechos a las personas citadas.

From the above we can interpret that legal entities can deduct the interest they pay for loans received should receive the same interest to the loans they grant. In other words, in accordance with the provisions of the LISR, the issuance of the CFDI would only take place in the event that the legal entity granting the loan (who would have the creditor status and would be obliged to extend the CFDI for granting the loan) has, in turn, received a loan and that the latter loan is paying interest for which it makes a deduction.

In addition, the Article 76 states:

Los contribuyentes que obtengan ingresos de los señalados en este Título, además de las obligaciones establecidas en otros artículos de esta Ley, tendrán las siguientes:

  1. Expedir los comprobantes fiscales por las actividades que realicen.

For purposes of the fiscal record established in the article, the granting of the loan is made as a benefit derived from the employment relationship, must be included in the payroll complement between the income concepts as “other”, specifying the concept as ‘Loan without Interest ‘, and each time the worker makes a payment or total payment of the loan, the loan must be included in the complement of the CFDI as a deduction, identifying it as Other for being a Loan payment .

There are diverse opinions and controversies by what establishes the Federal Work Law (LFT)

Las deudas contraídas por los trabajadores con sus patrones en ningún caso devengarán intereses sin embargo, lo anterior depende de las condiciones convenidas entre el empleado y la compañía, ya que pudiera ser que la compañía haya establecido este tema en sus políticas internas, pero en caso contrario, sería decisión de los directivos de cada empresa, el cobrar o no intereses por los préstamos.

In relation to the same order, the article 110 of the LFT cites certain requirements:

“Los descuentos en los salarios de los trabajadores, están prohibidos salvo en los casos y con los requisitos siguientes:

  1. Pago de deudas contraídas con el patrón por anticipo de salarios, pagos hechos con exceso al trabajador, errores, pérdidas, averías o adquisición de artículos producidos por la empresa o establecimiento. La cantidad exigible en ningún caso podrá ser mayor del importe de los salarios de un mes y el descuento será el que convengan el trabajador y el patrón, sin que pueda ser mayor del treinta por ciento del excedente del salario mínimo”

With all this we can notice that some unusual operations can generate doubts as to its correct recognition, this is why, if you have this or other issues that don’t know or generate uncertainty, we can gladly support you to do in your business activities within the established in the current legislation. Call us!

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