An amendment to the PROSEC Decree was published in the Official Journal of the Federation on August 26, 2024, and entered into force on August 27, 2024.
The PROSEC is a program designed for companies that produce specific merchandise. It allows them to import various goods to deliver products with preferential general import duties.
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The Mexican Taxpayer Ombudsman agency (“PRODECON” by its acronym in Spanish) has notified taxpayers that, to streamline and expedite the filing of Final Agreements and Complaints, as of September 1st, 2024, the only methods for filing of such Final Agreements and Complaints will be through the new Electronic System for the Receipt of
On June 28, 2024, the “Decree to promote investment in the industrial zones of Progreso I and Mérida I in Yucatan, Mexico” (the “Decree”) was published in the Official Journal of the Federation. Such Decree grants certain tax benefits and administrative assistance for taxpayers that carry out productive economic activities in the electrical and electronics
On April 5, 2024 the “Decree publishing the requirements to temporarily import goods included in Annex II of the Decree for the Promotion of the Manufacturing, Maquiladora and Export Services Industry” (the “Decree”) was published in the Official Journal of the Federation, which entered into force on April 8, 2024, and will remain valid through August 31, 2024.
On October 20, 2023, a decree containing amendments to the General Law of Business Associations (“LGSM” per its acronym in Spanish) was published in the Official Journal of the Federation. Amendments to various articles of the LGSM recognize the validity of using electronic, optical and other technologies to convene meetings of partners and shareholders, and
On October 11, 2023, the “Decree granting tax incentives to key sectors of the export industry consisting of the immediate deduction of the investment in new fixed assets and the additional deduction of training expenses” was published in the Official Gazette of the Federation. The Decree entered into force as of its publication, with the
Mexican tax authorities are sending notices to taxpayers inviting them to review and, if necessary, correct their tax filings (“Invitation Letters”). The Invitation Letters identify alleged discrepancies between amounts taxpayers claimed as authorized deductions and the expense and invoicing information they provided to support such deductions.
It is important to review the Invitation Letter carefully
A special tax resolution published in the Official Journal of the Federation on April 23, 2021, amends several current rules to establish that Mexican tax authorities will now disallow any credit or deductions for wages or other payments made for outsourced services that relate to the taxpayer company’s purpose and main economic activity. Once Mexico’s