The "Decree to promote investment at the Progreso I and Merida I Industrial Welfare Hubs in the state of Yucatan" was published on June 28, 2024, in the Official Gazette of the Federation ("DOF"), to provide tax benefits and administrative facilities to taxpayers who carry out production economic activities at the Progreso I and Merida I Industrial Welfare Hubs, and it entered into force the day following...
Any company in Mexico that hires foreigners must update their employer registration certificate on a yearly basis. This is done after filing the previous fiscal year's annual tax return (in this case, fiscal year 2023), between April and May.
Employers who had an annual average of 300 workers or more in the year 2023 must, in 2024, commission an authorized public accountant (CPA) to carry out an audit on the fulfilment of their obligations for the year 2023 before the IMSS.
On December 28, 2023, the Ministry of Finance and Public Credit (SHCP) published in the Federation Official Gazette the 2024 General Foreign Trade Rules, which came into force on the first day of the year and will be valid until December 31, 2024.
On February 1, 2024, the Tax Administration Service released a new application for the registration of monthly Value Added Tax (VAT) payments. This application must be used for the VAT return corresponding to the month of January 2024.
On December 29, 2023, the Miscellaneous Tax Resolution (MTR) was published in the Federation Official Gazette in force from January 1 to December 31, 2024.
On March 16, 2023, a bill was introduced in the Chamber of Deputies to reform article 123 of the Constitution on labour matters. Based on the legislative agenda, there should be a resolution to this proposal to reduce working hours in Mexico by December 15.
On 11 October 2023, the decree granting tax incentives to key sectors of the export industry was published in the Official Gazette of the Federation, consisting of the immediate deduction of investment in new fixed assets and the additional deduction of training expenses, which entered into force on 12 October of this year.
Remember that, as of January 1st, 2021, individuals who fail to submit their notice of suspension of activities due to a change of tax residence will not lose their status as residents in Mexico.
The Economic Budget for 2024 was published in the Parliamentary Gazette of September 8, 2023. The Federal Executive submitted to Congress the initiatives to reform the Federal Law on Fees (LFD), the Federal Revenue Law (LIF) and the Federal Expenditure Budget Proposal (PEF).
On May 12 of the year, the Second Chamber of the Supreme Court of Justice of the Nation (SCJN) decided on the conflicting lines of precedent 413/2022. The criterion that prevailed was that civil compensation is not eligible as a method to pay VAT, nor can it give rise to a request for a favourable balance or credit.
As every second semester of the fiscal year in course, taxpayers can ask the tax authorities to reduce the provisional monthly payment of income tax (ISR) or the non-declaration of income tax for the period between July and December of the year in course. This can benefit taxpayers by optimizing cash flow, to avoid a decapitalization as a result of the payment of excessive taxes.
Recently, in Mexico, legislative reforms which consider new contributions focused on environmental care have been carried out. Below are the generalities of such contributions that respond to the collection capacity of the states, as well as the federal entities in which they are applicable.
Official Gazette of the Federation: 06/05/2023 On June 05, 2023, the decree promoting investment and economic growth for taxpayers who carry out productive economic activities within the Well-Being Development Zones of the Isthmus of Tehuantepec was published in the Official Gazette of the Federation.
The Annual Report of Foreign Trade Operations (RAOCE) 2022, is an obligation for companies that have IMMEX or Prosec licenses, where the operations carried out in the year prior to the one presented are to be informed.
The Miscellaneous Tax Resolution for 2023 and its annexes were published on December 27, 2022, in the Official Gazette of the Federation, and it entered into force on January 1, 2023. It is important to note that in the 2023 the Miscellaneous Tax Resolution there were minimal changes with respect to the Miscellaneous Tax Resolution of the previous year (2022). Below are some highlights:
The reform to articles 76 and 78 of the Federal Labour Law was published last December 27th, 2022, increasing the minimum vacation benefit for employees based on their seniority.
Payments on behalf of third parties are disbursements made by a third party, which may be a natural or legal person, having or not a link or relationship with the taxpayer on behalf of which the disbursements will be made.
Starting on 2022, The Tax Code of the Federation (CFF) establishes new provisions for the issuance of tax opinion, making it mandatory for certain taxpayers, and, as in previous years, it continues to be optional for natural persons with business activities and legal entities. Additionally, it established reforms to the presentation of Informative Return on the Situation of the Taxpayer (ISSIF) as...
Latest update: August 22, 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.
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 December...
Does your company have a supplier payment policy in which the correct issuance of Online Digital Tax Receipts (CFDIs) is analyzed?
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 (Anexo 20)...
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.
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.
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, 2018 and...
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.
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).
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.
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 la...
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 is very close to the deadline. Is your company prepared?
Learn about the new obligation for individuals and companies that hire or subcontract services provided by a contractor.
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.
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...
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 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.
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.
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.
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.
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:
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:
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.
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.
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.
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:
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.
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.
August 2018 Key Points: Mexican Tax Administration system moving ahead with the new CFDI rules with no apparent additional delays.
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