100104MX VAT tax refund

A VAT refund occurs when the VAT input value exceeds the VAT output value for a VAT reporting period. The VAT refund is submitted electronically.

Mexico specifics

If the amount of input VAT (credit VAT) that is recoverable in a month exceeds the amount of output VAT (debit VAT) that is payable, the excess credit can be carried forward to offset output tax in the following tax periods. Alternatively, excess credit can be refunded on request.

How Infor meets the requirement

FSM keeps track of the tax amounts, both input and output tax. Use the VAT Returns Report to generate the tax details for VAT transactions. The report can be used to identify whether there is a VAT refund for the period. The refund is handled outside of the Infor solutions.