Transition Bill of Lading complement about to end
Applying for a Bill of Lading Complement for goods or merchandise transportation services?
Tax alert: your finance, tax, legal and labour update
Decrease in the PTU paid after May 2022
Last May 2022, the Mexican Tax Authority (SAT) issued several FAQs related to provisional income tax payments of general regime legal entities, which offered clarifications in relation to the changes carried out in the new Tax Returns and Payments portal in force for the financial year 2022.
Deadline for invoicing 4.0 implementation ends
Last update on June 8, 2022 By communiqué published on June 8, 2022, the Tax Administration Service (SAT) informed that with the aim of providing facilities to taxpayers for their continued compliance with their fiscal obligations, the use of new version 4.0 of the electronic invoicing scheme will be mandatory as of January 1, 2023, the period of coexistence with version 3.3 continuing until...
Consequences of not issuing CFDI correctly
Does your company have a supplier payment policy in which the correct issuance of Online Digital Tax Receipts (CFDIs) is analyzed?
Nuevo esquema de facturación 4.0
Derivado de la reforma fiscal para el año 2022, así como en la Resolución Miscelánea Fiscal (RMF) 2022, publicada en el Diario Oficial de la Federación el 27 de diciembre 2021, se establecen cambios en temas de facturación electrónica, los cuales entraron en vigor el 1° de enero de 2022. La autoridad dio a conocer el 31 de diciembre de 2021, a través de su sitio web, el formato de factura...
New 2% local tax on digital platforms Mexico City
Last November 29, the Mexico City Government published, in the Official Gazette, the decree bill by means of which diverse provisions of the Tax Code of Mexico City are amended, added and repealed for the 2022 tax year, which was passed on December 15, 2021.
Mexican Tax Reform initiative 2022
Last September 8, 2021, the Mexican President presented a bill to the Chamber of Deputies of the Federal Congress for the reform, addition and repeal of different provisions of the Income Tax Law (Ley del Impuesto Sobre la Renta - LISR), the Value Added Tax Law (Ley del Impuesto al Valor Agregado - LIVA), the Special Tax on Production and Services Law (Ley del Impuesto Especial sobre Producción...
Mexico subcontracting reform - deadline extended
Last July 31st, 2021, the Chamber of Deputies passed a one month extension to the effective date of the changes derived from the labor reform on matters of outsourcing.
Effective income tax rate for large taxpayers
According to the current framework of the powers granted to the Tax Administration Service (SAT) by the 2021 Tax Reform, and with the aim of facilitating and encouraging voluntary compliance by taxpayers, last June 13, 2021, the SAT, on its portal, published the first parameters regarding the effective Income Tax rates, corresponding to 40 economic activities with regards to the 2016, 2017,...
New procedure cancelation of the FTR due to merger
Following several months during which this formality became a very complex and practically impossible process, this new rule has been issued, which will be used to submit the information electronically so as to subsequently obtain an appointment, with the intention of being able to duly meet the necessary requirement so that the merger is not considered as a sale.
Registration as a specialized service provider
On May 24, 2021, the Decision by means of which the general provisions are published for the registration of individuals or legal entities that provide the specialized services or execute the specialized works referred to in Article 15 of the Federal Labor Law (Ley Federal del Trabajo - LFT) was published in the Federal Official Gazette (DOF).
New complement for a Bill of Lading
Last May 3, 2021, the First Amendments to the Miscellaneous Tax Resolution for 2021 were published in the Federal Official Gazette, which created the obligation to issue a complement called a Bill of Lading, which must be prepared together with the Type “T” transferred Online Digital Tax Receipt (CFDI) and which must be attached for the carriage of goods.
Outsourcing regime Reform in Mexico
Last April 23, 2021, a Decree was published in the Mexican Federal Official Gazette (Diario Oficial de la Federación - DOF) which amended, extended and repealed different laws, including changes to the Federal Labor Law (Ley Federal del Trabajo - LFT); the Social Security Law (Ley del Seguro Social - LSS); the National Workers’ Housing Fund Institute Law (Ley del Instituto del Fondo Nacional de...
New outsourcing agreement in Mexico
Last November 12, 2020, the president, Andres Manuel Lopez Obrador, presented a reform bill to different laws that govern the framework of outsourcing in Mexico, seeking to protect the rights of workers and eliminate certain schemes used by entities that are detrimental for them.
Disclosure of reportable schemes in Mexico
Disclosure of reportable schemes in Mexico is very close to the deadline. Is your company prepared?
New Payroll Tax obligation for Mexico City
Learn about the new obligation for individuals and companies that hire or subcontract services provided by a contractor.
Mexican Tax Reform 2021
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.
Renewal: Qualified Maquiladora Approach Agreement
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...
New Industrial Property Act
The new Federal Law on the Protection of Industrial Property (LFPPI) was published on July 1st, 2020, with the aim of harmonizing and adapting Mexican legislation on matters of intellectual property to the obligations assumed by our country according to the United States, Mexico, Canada Agreement (USMCA).
The close of the 2020 year
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.
Outsourcing schemes: possible changes to tax laws
Last November 12th, the Mexican President presented the Bill containing the Decree Draft by means of which different provisions are amended, added and repealed, related to the outsourcing regime, most importantly, the suggested changes to the Federal Labor Act, the Federal Tax Code, the Income Tax Act and the Value Added Tax Act.
First amendments to the 2019 MTR
On August 20, 2019, the first amendment to the Miscellaneous Tax Resolution for 2019 was published in the Daily Gazette of the Federation, which is effective starting from August 21, the day following its publication. The amendment repealed, added and reformed several provisions regarding tax compliance.
2020 Mexico Tax Reform
On October 30th, the House of Representatives passed the Economic Package for 2020, tax reforms which are now pending publication in the federal journal. We discuss below the changes we consider more relevant.
VAT 6% withholding personnel services
For 2020 the Value Added Tax Law was reformed, and one of the main changes was made in the article 1-A of the mentioned Law which establishes the following:
Modifications on the VAT/IEPS Certification
On July 24 of this year, the Mexican government published modifications to the General Rules of Foreign Trade 2020 (GRFT) and Tax Miscellaneous Resolution of 2020 (TMR), which took effect on July 27 of this year, except for some rules that will be applicable in accordance with the transitory articles. The main changes are detailed below:
Notice to update partners or shareholders
Among the changes made to the Federal Tax Code of 2020, there is a new obligation for companies: the submission of “Notice to update partners or shareholders” whereby the SAT is going to be informed about the name and tax id (RFC) of the partners or shareholders of each company. This notice should be provided every time a change or incorporation of partners or shareholders takes place.
Decrease of Corporate Income Tax by COVID-19
Due to the health contingency caused by the COVID-19 pandemic, the income of many companies was considerably reduced which has had a negative impact. In addition, tax obligations must continue to be declared punctually and this affects the liquidity of most companies without any exact date foreseen for this situation to return to normal.
New Taxation for Digital Economy
Beginning June 1st, 2020 there will be new tax obligations for residents abroad without permanent establishment in Mexico that provide services in Mexican territory through websites or mobile applications. Here you will find a quick guideline of the new tax obligations for Digital Economy services.
Rules regarding the certificate of compliance
In the April 29 publication of the 2019 Miscellaneous Tax Resolution (MTR), the list of obligations that taxpayers must meet in order to be able to obtain a positive certificate of compliance (COC) was modified to:
New Economic Package for 2019 & Tax Implications
On December 28, 2018, the economic package for 2019 was published on the Official Gazette of the Federation, effective January 1, 2019. The Federal Revenue Law for 2019 does not include any increase on existing taxes, the creation of new taxes or any other charges on the gasoline price.
New scheme to cancel a CFDI
Mexican Tax Administration (SAT) maintain the entering into effect of the new scheme of cancelation for the CFDI. The authority grants a simplified option for the issuing of the CFDI without the need to issue a payment receipt CFDI.
(CFDIs) changes coming in to effect on September
August 2018 Key Points: Mexican Tax Administration system moving ahead with the new CFDI rules with no apparent additional delays.
Want to know more?
Raúl Montemayor Treviño Managing Partner - Monterrey
Omar Garcia Garcia Tax Partner - Monterrey
