In order to promote investment, encourage economic growth, and the creation of formal jobs in the peninsular region of the Yucatan (where the Mayan Train will pass through) the Mexican Ministry of Treasury (SHCP by its...more
De acuerdo con la Cuarta Resolución de Modificaciones a las Reglas Generales de Comercio Exterior para 2023 en México, las empresas con certificación del Impuesto al Valor Agregado (IVA) e Impuesto Especial sobre Producción y...more
As we have previously explained in other articles, an IMMEX is a duty deferral program from the Mexican federal government created in 2006, which stands for Industria Manufacturera, Maquiladora y de Servicios de Exportación...more
Multinational companies operating in Mexico are subject to Mexican regulations regarding the use of foreign goods. Mexican customs law provides that, with the exception of goods for personal use, any person who possesses,...more
In any type of transaction, it is usual for two parties to enter into a debtor/creditor relationship and use the legal concept of compensation as a method of payment for their respective debts, making it easy to comply with...more
The Supreme Court of Justice of the Nation resolved the case 413/2022 holding that the civil law rule to offset receivables and payables between parties to a transaction is not considered payment for VAT credit purposes....more
La Segunda Sala de la Suprema Corte de Justicia de la Nación ha emitido una jurisprudencia en materia de IVA que puede conducir a resultados no lógicos y no comerciales. Las empresas que operan en México deben ser conscientes...more
The Second Chamber of the Mexican Supreme Court of Justice has issued a VAT precedent which can lead to counter-intuitive and non-commercial outcomes. Businesses operating in Mexico should be aware of this....more
La Segunda Sala de la Suprema Corte de Justicia de la Nación (SCJN) de México, en la sesión del 15 de marzo de 2023, resolvió la contradicción de tesis 413/2022, prevaleciendo el criterio consistente en que la compensación...more
The Tax Administration Service published the coordination strategy for taxpayer audits for the fiscal year 2023, which mainly consists of management by the tax authority for taxpayer compliance, actions for the auditing of...more
El Plan Maestro de Fiscalización y Recaudación para el ejercicio de 2023 publicado por el Servicio de Administración Tributaria publicó la estrategia de coordinación para la fiscalización de contribuyentes, la cual...more
Tulum, Cabo, Cancun, and Playa del Carmen are not only wonderful vacation destinations in Mexico, they are also very attractive destinations for American investors. Clients interested in acquiring real estate in Mexico, often...more
IMMEX is an acronym that in Spanish stands for Industria Manufacturera, Maquiladora y de Servicios de Exportacion (Manufacturing, Maquiladora and Export Services Industry). It is a program from the Mexican federal government...more
The General Foreign Trade Rules for 2022 (Rules) were published on December 24, 2021, and became effective January 1, 2022. The Rules provide that companies registered in the Companies Certification Scheme under the VAT...more
Los siguientes son aspectos relevantes de la iniciativa presentada el 7 de septiembre del 2021, por el Ejecutivo Federal de México, que reforma, adiciona y deroga entre otros ordenamientos, la Ley del Impuesto sobre la Renta,...more
Last month, the Mexican federal government sent the proposed 2022 Economic Plan (the Proposal) to the Congress of the Union, which includes the 2022 Federal Budget, as well as the 2022 Revenue Law (Ley de Ingresos) and...more
Tras la culminación del proyecto Erosión de la Base Desplazamiento de Beneficios (Base Erosion Profit Shifting o BEPS) en 2017, proyecto creado para combatir la erosión de la base gravable y estrategias para la transferencia...more
In our prior publication, we discussed an omnibus bill presented by Mexico’s President to Congress in November 2020. The bill proposed abolishing outsourcing of personnel in Mexico. Since then, the bill has now been...more
Fixed assets represent a significant capital investment for manufacturing companies, though, once made, they are just there to produce as expected and that is it, right? Not quite. We have recently seen a surge in Mexican...more
Possible Future Risk for U.S. Financial Services Companies - Global digitalization spurred by rapid advances in digital technology is enabling virtual business operations at a frenetic pace, including by insurance and other...more
El pasado 19 de abril, se presentó al Senado de México el Dictamen en sentido positivo sobre el Proyecto de Decreto por el que se reforman, adicionan y derogan diversas disposiciones, de la Ley Federal del Trabajo; de la Ley...more
As previously informed, on November 11, 2020, the President of Mexico submitted a bill proposing the amendment of the Federal Labor Law, Social Security Law, National Workers’ Housing Fund Institute Law, Federal Tax Code,...more
On April 20, 2021, the Senate approved the bill sent by the president of Mexico that contains several provisions regulating outsourcing arrangements (the "Bill"). The Bill seeks to amend the Federal Labor Law, the Social...more
It’s the beginning of a new year! 2020 is over, COVID-19 vaccines are being administered, the USMCA is in effect, and there is an apparent unofficial understanding that the auto industry is essential in North America (Mexico,...more
On November 12, 2020, the Federal Executive filed before the Chamber of Deputies of the Congress of the Union the “Initiative of the Federal Executive that reforms, adds and derogates various provisions of the Federal Labor...more