Mexico: Reporting Deadlines in Form 76
On December 23th, 2016, the Administrative Guidelines for FY 2017 were published in the Federal Official Gazette (FOG), whereby the deadlines to report the "relevant transactions" are included in terms of Article 31-A of the Federal Tax Code (FTC), and that has been called as Form 76.
It is important to remind that on November 2016, the Second Chamber of the Mexican Supreme Court of Justice (Supreme Court) declared as unconstitutional the obligation set forth in Article 31-A of the FTC (Form 76), with the effect that such legal provision does not applied to those taxpayers that file an amparo claim, until there is an amendment in the Law.
The above, since in view of the Supreme Court, Article 31-A of the FTC does not establish the parameters for the tax authorities to issue the corresponding regulation related with the obligation to report the relevant transactions. Also, the Court mentioned that it is until the moment when taxpayers fill the form through the website of the Tax Administration Service, when it is possible to know whether or not the transaction is relevant, and therefore if it necessary to comply with such obligation.
On November 30th, 2016 a Decree was published in the FOG to amend several legal provisions of the FTC, without any change to the text of Article 31-A declared as unconstitutional, however, we are of the opinion that in some cases there is a new possibility to file an amparo claim against the obligation to report the "relevant transactions" set forth in Article 31-A of the FTC (Form 76).
Based on the above, we will be happy to discuss this topic in further detail, with the aim to decide if in your specific case there are possibilities to file an amparo claim, and the effect that could arise in case a favorable resolution is issued.