December, 2020
The new law includes significant amendments, the most important of which are:
The new law also includes the addition of a chapter dedicated to technological protection measures, as well as information about the management of rights and internet service providers; similarly, the obligations of internet services providers are extended so as to harmonize them with the US Digital Millennium Copyright Act (DMCA).
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The close of the calendar year also means the close of the tax and financial year for most companies in Mexico. For this reason, the last few months are the most suitable for taking a pause and evaluating company position; above all, now that the year’s health crisis has to be taken into account, which may have a critical impact on results.
On November 16th, 2020, the US Internal Revenue Service (IRS) published a release stating that, together with the Mexican Tax Administration Service (SAT), it had agreed to renew the Fast Track methodology (Qualified Maquiladora Approach Agreement) for 2019. The agreement provides greater certainty to Mexican maquiladora companies that applied for a APA (Advance Price Agreement), so as to known when...
Last December 8th, 2020, a decree was published in the Federal Official Gazette (DOF), by means of which the provisions of the Income Tax Law(LISR), the Value Added Tax Law(LIVA) and the Federal Tax Code (CFF) were reformed, extended and repealed. Here are the most important amendments.
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