Baker McKenzie’s North America Tax Practice Group has prepared a client alert on the amendments approved by the Mexican Congress and recently published in the Official Gazette for Corporate Income Tax and Value Added Tax.
This alert also includes our comments in connection with the introduction of a new General Anti-Avoidance Rule (GAAR) and Reporting Obligations for Tax Advisors and Taxpayers. Most of the amendments and new tax provisions will come into effect in January 2020, but a few will not become effective until 2021. As detailed in the client alert, changes for Corporate Income Tax reflect BEPS actions and the Value Added Tax law additions, including obligations for Foreign Digital Platforms and withholding obligations for taxpayers that receives personnel services (Outsourcing-Insourcing).
Please do not hesitate to contact the indicated authors of the alert or any of the Tax Partners in our Mexican offices if you would like additional information or for further discussion of the issues addressed.