Mexico: Tax authority updates the transfer pricing adjustment rules
Recently, the Mexican tax authorities issued the Second Resolution of modifications to the 2018 Miscellaneous Tax Resolution (MTR) in which the rules regarding transfer pricing adjustments were amended and certain additional provisions were
See MoreMexico: The tax authority issues new rules regarding transfer pricing adjustments
On July 11, 2018 the Mexican Tax Authority (SAT) has published amendments to the rules for transfer pricing adjustments now included in rules 3.9.1.1-3.9.1.5 of Resolución Miscelánea Fiscal (RMF). These rules include the definition of transfer
See MoreMexico: Government declares new decrees regarding Special Economic Zones
Mexico has declared two new decrees that providing for the initiation of two new special economic zones (SEZ) in States of Campeche and Tabasco, in the official Gazette. They are designed for where they are most needed, and to boost productive
See MoreMexico modifies transfer pricing filing due dates
As a result of an amendment to Article 32-H of the Federal Tax Code (FTC) became the due date amended for submission simplified informative returns on the tax situation taxpayers who choose to file an ISSIF and do business with related parties need
See MoreMexico releases online platform for Transfer Pricing Informative Returns
On 1 November 2017, the Mexican Tax Administration (SAT) released the online platform and digital formats for the new informative statements for taxpayers required to submit the new Transfer Pricing Informative Returns under Article 76-A of the
See MoreMexico: Congress approves budget for 2018
Mexico’s Congress gave final approval to the federal budget for 2018 on 15th November
See MoreMexico presented budget proposal and tax reform for 2018
The Minister of Finance submitted the budget for 2018 to the Congress for its approval on 8th September 2017. The Proposed Budget includes the Federal Revenue Law (Revenue Law), General Economic Policy Guidelines and the Federal Spending Budget
See MoreMexico announces incentives for special economic zones
On 10 February 2017, the Ministry of Finance announced the creation of special economic zones (ZEEs). Legal entities and individuals with entrepreneurial activities in a ZEE would enjoy an income tax exemption during a 10-year period and a 50%
See MoreArgentina: DTA with Mexico enters into force
On August 23, 2017 the Agreement for Avoiding Double Taxation (DTA) between Argentina and Mexico entered into force. It will be applicable from January 1, 2018 for withholding taxes (for payments made from that date) and for income and asset taxes
See MoreBelgium, Mexico protocol to DTA enters into force
On 19 August 2017, the amending protocol of Double Taxation Agreement (DTA) between Belgium and Mexico was entered into
See MoreMexico: Tax authority launches online tax resolution service
The Mexican ax authority has launched an online tax dispute resolution service. The project is a co-operation between the tax authority of the country and the tax administration service which allows people to submit their tax disputes digitally and
See MoreSpain: Protocol to treaty with Mexico will enter into force in September 2017
Spain, on July 7, 2017, published the new protocol to the tax treaty with Mexico. The new protocol will enter into force on September 27, 2017. The protocol, signed on December 17, 2015, amends several parts of the countries’ 1992 tax
See MoreUS: Department of Commerce finalizes sugar trade compromise with Mexico
The U.S. Department of Commerce has finalized an agreement on the suspension of anti-dumping and countervailing duties on Mexican exports of sugar. The agreement, which reworked a 2014 pact, averts steep duties on U.S. imports of sugar from Mexico,
See MoreMexico signs Multilateral Convention on BEPS
Mexico has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ("Multilateral Instrument" or "MLI") on 7th June 2017. The signing of the MLI will modify over 1,100 international
See MoreMexico releases general rules on R&D tax credit
On February 28 2017, a general rule was published in the Official Gazette. This rule govern Mexico's R&D (research and development) tax credit. The incentive for the tax credit was resumed within the scope of the tax reform of 2017. Taxpayers
See MoreMexico publishes final report for country-by-country reporting
Mexico’s Taxpayer Office published a final report regarding master file, local file and country-by-country (CbC) report under Article 76-A of the Income Tax Law on April 3, 2017. These documentation requirements became effective on January 1,
See MoreHong Kong signs agreements on automatic exchange of financial account information in tax matters with 6 jurisdictions
Hong Kong has signed agreements with six jurisdictions for conducting automatic exchange of financial account information on tax matters. They are Belgium, Canada, Guernsey, Italy, Mexico and the Netherlands. A Government spokesman said on 17 March
See MoreMexico provides guidance on electronic receipts
The tax administration (Servicio de Administración Tributaria) of Mexico has been issued guidance regarding tax matters in January 2017. The guidelines set standards for compliance with the rule for electronic or digitized tax revenues. A tax
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