Tax News
2020
04
November 04, 2020
Tax
Newsflash - Application of the new interest deductibility limitation
Pursuant to the new limitation included in section XXXII of article 28 of the Mexican Income Tax Law with respect to interest deductibility, the “net interest” of the fiscal year that exceeds the amount obtained by multiplying the “adjusted tax profit” by a 30%, shall be...
01
October 01, 2020
Ritch Mueller
Ritch Mueller - New Partners' Announcement 2021
We are pleased to inform you that as of January 1, 2021, Alejandra Echeverria Gonzalez and Gabriel Robles Beistegui will become partners of the firm. Read announcement...
09
September 09, 2020
Tax
Newsfash - 2021 Economic Plan – tax reforms
On September 8th, the Mexican Secretary of Finance submitted the 2021 economic plan before the House of Representatives. Among other documents, the economic plan includes the 2021 Federal Revenue Act project and a project of decree that reforms, enacts and repeals several provisions of the Mexican...
03
August 03, 2020
Ritch Mueller
#ReporteÁgora:The Mexican firms that best navigate the COVID-19 crisis
On July 23, LexLatin published the first edition of its #ReporteÁgora, which was focused on "The Mexican firms that best navigate the COVID-19 crisis", highlighting the most relevant M&A, financing and debt offering transactions that took place during the first half of 2020. Ritch...
18
May 18, 2020
Tax
Newsflash - June 1, 2020 – VAT rules on digital services come into force
On June 1, 2020 new value-added tax (“VAT”) regulations for digital services provided by non-Mexican residents will come into effect. New Chapter III BIS of the VAT Law establishes a new tax regime applicable to the following digital services when rendered by non-Mexican tax...
11
May 11, 2020
Ritch Mueller
Newsflash - CENACE issues an official communication to guarantee the reliability of the National Electrical System
On April 29, 2020 the National Energy Control Center ("CENACE") published an Official Communication to guarantee the efficiency, quality, reliability, continuity and safety of the National Electrical System (“SEN”), in light of the SARS-CoV2 virus pandemic (COVID-19) (the "Official...
08
April 08, 2020
Tax
Newsflash - COVID-19 Tax – Force majeure
Amid the health crisis brought by COVID-19, it is of outmost importance for Mexican taxpayers to understand the applicability of the relevant force majeure tax provisions. For such purposes, please bear in mind that on March 30, 2020, the Mexican National Health Council published a decree in...
29
March 29, 2020
Tax
Newsflash - COVID-19 Tax Considerations (in the absence of tax incentives)
It is a reality the negative economic impact that companies and individuals around the world are facing as a consequence of the COVID-19 pandemic. Nevertheless, the Mexican Government has decided not to grant any fiscal or tax incentives in connection with federal taxes, such as income tax, VAT or...
29
January 29, 2020
Ritch Mueller
Ritch Mueller is awarded by LatinFinance as Law Firm of the Year: Mexico
On January 29, the LatinFinance Deals of the Year Awards 2019 were held at the Gotham Hall in New York, where the most outstanding transactions in Latin America's financial markets were recognized, as well as the professionals and institutions involved. Ritch Mueller was the winner of...
2019
16
December 16, 2019
Tax
Newsflash - Comments to the interest deductibility limitation published in the 2020 tax reform
The 2020 tax reform introduces subsection XXXII to article 28 of the Mexican Income Tax Law (MITL), with the purpose of limiting the deductibility of net interest paid by companies in a given fiscal year, to the amount that results from multiplying the net adjusted profit by 30%. In simple words,...
