On 2 February 2021, Mexico has published Agreement 13/2021 in the Official Gazette. The Agreement sets threshold for reportable cross-border arrangements under the Mandatory Disclosure Regime (MDR). This Agreement is applicable from 3 February 2021.
The agreement states that taxpayers or tax advisors must report arrangements with an aggregate tax benefit of at least MXN 100 million (approximately USD 4.9 million). To determine the threshold, the taxpayers or tax advisors must aggregate the tax benefit for all transactions that meet a hallmark for reporting and have at least one common fiscal year.
Note that the first deadline to disclose a scheme expires on 15 February 2021.
