Declaration of Special Economic Zones (“SEZs”)

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Declaration of Special Economic Zones (“SEZs”)    On September 29, 2017, the Executive Branch published in the Federal Official Gazette declarations of the first three SEZs, located in Chiapas, Veracruz, Michoacan and Guerrero.   Read More   The Executive Branch published on September 29, 2017 declarations of the first three SEZs: (i) Puerto Chiapas, (ii) […]

Executive Order Whereby Tax Benefits are Granted to Taxpayers Engaged in Hydrocarbon Operations

Publicada en Deja un comentarioPublicada en Consulting & Litigation, English, Tax

On August 18, 2017 an executive order whereby tax benefits are granted to taxpayers engaged in hydrocarbon operations (the “Order”) was published in the Federal Official Gazette. The Order grants benefits to permit holders engaged in hydrocarbon exploration and extraction. Due to the downward adjustment in international hydrocarbon prices and the improvement in extraction conditions, […]

Tax litigation in Mexico: overview

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Tax litigation in Mexico: overview by Gil Zenteno Garcia, Francisco Matus Bravo, Norberto Ruiz and Arturo Palafox, Basham, Ringe & Correa, SC Related Content A Q&A guide to civil and criminal tax litigation in Mexico. This Q&A provides a high level overview of the key practical issues in civil and criminal tax litigation, including: pre-court/pre-tribunal process, […]

RULES APPLICABLE TO THE EXECUTIVE ORDER ON THE 2017 REPATRIATION OF FUNDS

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RULES APPLICABLE TO THE EXECUTIVE ORDER ON THE 2017 REPATRIATION OF FUNDS   On May 15, 2017 general rules were published by the Tax Administration Service (“SAT”) applicable to the “Executive Order granting various income tax breaks for deposits or investments to be received in Mexico”, in effect since January 19, 2017.   Read more […]

Executive Order for the Repatriation of Funds in 2017

Publicada en Deja un comentarioPublicada en English, Tax, Wealth Planning

On January 18, 2017, there was published in the Federal Official Gazette an “Executive Order providing for income tax incentives for the repatriation of deposits or investments maintained abroad” (the “Order”), so as regularize the taxpayer’s tax liability by the payment of the income tax at a reduced rate and with no additional government charges. […]

APA MAQUILA

Publicada en Deja un comentarioPublicada en English, Foreign Trade, Tax

On October 14, 2016, the Tax Administration Service (“SAT”) and its U.S. counterpart, the Internal Revenue Service (“IRS”), sent similar press releases to announce the culmination of two years of collaboration to establish a new transfer pricing procedure to avoid double taxation in the maquiladora industry. This new framework proposes to solve more than 700 […]

Mexico´s Bill Proposal to Tax Donations and Inheritances

Publicada en Deja un comentarioPublicada en Advisory, English, Litigation, Tax, Tax Advisory

On September 6, 2016, a bill for amending certain provisions of the Mexican Income Tax Law was introduced by congressman Jorge Álvarez Máynez of the Movimiento Ciudadano party. The bill aims to tax inheritances and donations based on the amount of income received. For such, it proposes levying individual taxpayers with a progressive rate as […]

Obligation to Report Income and Transactions in Countries Listed Under the Income Tax Law

Publicada en Deja un comentarioPublicada en English, Litigation, Tax

The recent amendments to the Omnibus Tax Ruling for 2016, restarts the obligation for Mexican residents with investments in certain countries, to report their income and transactions that have been carried out through foreign vehicles or legal entities located in jurisdictions such as: the Netherlands Antilles (Bonaire, Curacao, Saba, St. Eustache, St. Maarten), Aruba, Bahamas […]