Mexico raises WHT rate on interest paid by financial institutions for FY 2024

November 20, 2023

On 13 November 2023, Mexico published the Federal Revenue Law for 2024 in the Official Gazette. Accordingly, Mexico increased the withholding tax (WHT) rate on interest payments made by financial institutions from 0.15% to 0.50% for fiscal year (FY)

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Mexico unveils tax incentives for key export sectors

October 18, 2023

On 11 October 2023, the Mexican government published a Decree in the Official Gazette offering tax incentives to vital sectors of the export industry. The Decree came into force on 12 October 2023. Eligible taxpayers Companies that manufacture

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Mexico: BEPS MLI enters into force

July 07, 2023

On 3 July 2023, OECD published the updated position of signatories’ countries regarding the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into force for

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Mexico announces tax incentives for investment in Interoceanic Corridor’s development hubs

June 12, 2023

On 5 June 2023, the Government of Mexico announced a decree introducing tax incentives for companies that decide to invest in Interoceanic Corridor’s development hubs. The decree aims to promote economic development in the disadvantaged southeast

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Mexico deposits ratification instrument for BEPS MLI

March 20, 2023

On 15 March 2023, Mexico deposited its instrument of ratification of the Multilateral Convention on the Implementation of Tax Treaty-Related Measures to Prevent BEPS (MLI). The Convention will enter into force in relation to Mexico on 1 July 2023.

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Mexico ratifies BEPS multilateral convention

November 25, 2022

On 22 November 2022, the Mexican President approved a Decree for the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Mexico signed the MLI on 7 June 2017. Mexico

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Mexico: Senate approves BEPS MLI

October 17, 2022

On 12 October 2022, the Mexican Senate approved the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Mexico signed the MLI on 7 June 2017. Mexico must now deposit its ratification

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Mexico: Congress approves Economic Package for the fiscal year 2022

November 15, 2021

On 26 October 2021, Mexican Congress has approved the tax reform for 2020 which was presented for the fiscal year 2022 which was presented on 8 September 2021. The Economic Package clarifies income tax law, value-added tax (VAT) law, excise tax

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Mexico: Executive Branch submits 2022 economic proposal to Congress

September 16, 2021

On 8 September 2021, the Mexican Executive Branch has submitted Economic Package for the fiscal year 2022 including a proposal of Tax Reform. The proposed 2022 Tax Law clarifies income tax law, value-added tax (VAT) law, excise tax (duty)

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OECD: Peer review reports under BEPS Action 14

April 17, 2021

On 15 April 2021 the OECD released peer review assessments under Action 14 of the project on base erosion and profit shifting (BEPS) which aims to make dispute resolution mechanisms more effective. These stage two monitoring reports relate to

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Mexico sets threshold for reporting customized transactions under MDR

February 09, 2021

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

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Mexico issues general tax rules on Mandatory Disclosure Rules (MDR)

December 07, 2020

On 18 November 2020, the Mexican Tax Administration (SAT) has issued general tax rules (GTR) for 2020. The GTR includes a new ‘chapter’ related to the mandatory reporting requirements for certain transactions. Mandatory Disclosure Rules (MDR)

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US and Mexico renew competent authority agreement on Maquiladoras

November 23, 2020

On 16 November 2020, the Internal Revenue Service (IRS) announced that IRS and Mexico’s Servicio de Administración Tributaria (“SAT”) have agreed to renew the Qualified Maquiladora Approach Agreement (“QMA”), a coordination

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Mexico: Executive Branch submits 2021 economic proposal to Congress

September 24, 2020

On 8 September 2020, the Mexican Executive Branch has submitted Economic Package for fiscal year 2021 including a proposal of Tax Reform. The proposed 2021 Tax Law clarifies income tax law, value-added tax (VAT) law, and federal tax code. Tax key

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Mexico modifies the General Customs Rules for 2020

August 12, 2020

On 24 July 2020, Mexico has published the first amendment to the General Customs Rules for 2020 in the Official Gazette. The amendments include changes to the Comprehensive Business Certification Scheme, in the VAT, VAT Certification and Authorized

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Mexico extends individual tax return filing deadline amid COVID-19

April 26, 2020

On 22 April 2020, the Mexican Tax Administration (SAT) has issued a press release extending tax return filing deadline for individual amid COVID-19 pandemic. SAT has extended the period of submitting tax returns from 30 April 2020 to 30 June

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Mexico publishes Annexes to Miscellaneous Tax Resolution 2020

January 19, 2020

On 9 January 2020, Mexico has published Annexes 3, 5, 7, 8 and 11 of the Miscellaneous Tax Resolution for fiscal year 2020 in the Official Gazette. Annexes refer to the following issues: Annex 3 of the Miscellaneous Tax Resolution 2020 The

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Mexico implements economic package 2020

December 17, 2019

On 9 December 2019, Mexico has published a decree to implement economic package 2020 which was approved by Mexican Congress on 30 October 2019. This Decree will enter into force on January 1, 2020. The economic package consists of the following

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