Tax News
2019
16
December 16, 2019
Tax
Newsflash - The new tax transparency regime for the private equity industry
With the purpose of adopting the OECD and G-20’s recommendations issued within the BEPS (Base Erosion and Profit Shifting) project, the 2020 Tax Reform includes important modifications to regulate the tax regime of foreign transparent entities and foreign vehicles, which affect the tax...
16
December 16, 2019
Tax
Newsflash - Deductibility limitation for payments made to foreign based related parties
The 2020 tax reform published on the Federal Official Gazette, on December 9th,modifies section XXIII of article 28 of the Mexican Income Tax Law (MITL), disallowing the deduction of payments made to foreign based related parties or transactions executed through “structured...
16
December 16, 2019
Tax
Newsflash - Relevant modifications to the Federal Fiscal Code: new anti-abuse rule, reportable schemes and joint and several liability
With the purpose of countering abusive practices that have been implemented in Mexico throughout the past years, the 2020 tax reform published on the Federal Official Gazette, on December 9th, establishes a series of modifications to the Federal Fiscal Code, including: (i) a new general anti-abuse...
16
December 16, 2019
Tax
Newsflash - 2020 Tax Reform: key takeaways
Income Tax Law: Tax Transparency: In general terms, the reform eliminates tax transparency for foreign entities and vehicles, which will now calculate and pay their taxes as legal entities, in terms of the applicable sections of the Mexican Income Tax Law (MITL). Additionally, such entities or...
09
October 09, 2019
Tax
Newsflash: Amendment proposal to restrict interest deductibility in Mexico
The 2020 Economic Plan proposes to introduce 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...
13
September 13, 2019
Tax
Newsflash - 2020 Economic Plan - Main Taxes Takeaway
The 2020 proposed tax reform (the “Tax Reform”) submitted by the Mexican Secretary of Finance before the Mexican Congress includes relevant changes to the Mexican tax provisions which may significantly impact current business structures in Mexico. Tax Transparency. The Tax Reform aims...
09
September 09, 2019
Tax
Newsflash - 2020 Economic Plan Proposal
Yesterday, the Mexican Secretary of Treasury submitted the 2020 economic plan proposal before the house of representatives. Among other documents, the economic plan includes the 2020 Federal Revenue Act project and a project that reforms, enacts and repeals several provisions of the Mexican Income...
09
May 09, 2019
Tax
Newsflash - New Labor Reform
On May 1st, the Federal Official Gazette (“FOG”) published the Decree which amends, adds and repeals several provisions of the Federal Labor Law, among other laws, regarding labor justice, union freedom and collective bargaining (“Decree”). After being approved by the...
10
January 10, 2019
Tax
Newsflash - New tax incentives granted to promote the Mexican financial markets
As part of a multidisciplinary strategy of the Mexican Ministry of Finance and Public Credit (SHCP) and the Mexican Central Bank (Banxico) that is meant to stimulate the financial sector in Mexico, a presidential decree was issued on January 8, 2019, introducing several tax incentives that are...
2018
18
December 18, 2018
Tax
Newsflash - New Administration Proposes Economic Plan for 2019
On December 15th, 2018, the Mexican Secretary of Treasury submitted the 2019 economic plan proposal (the “2019 Economic Plan”) before the house of representatives, which has yet to be discussed and approved and is expected to be enacted –with no relevant amendments– no later...
