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TAX STIMULES OF THE NORTH BORDER REGION

On December 31st, 2018, the Fiscal Incentive Decree of the Northern Border Region was published in the Official Gazette of the Federation (DOF), granting tax benefits for Income Tax (ISR) and in matters of Value Added Tax (VAT or IVA), which entered into force as of January 1, 2019 and will be in force during 2019 and 2020. Next, we leave the most important points of the decree: FISCAL STIMULUS APPLICABLE TO ISR Taxpayers who may choose to apply the benefits of the Decree will be those who have the following requirements: 1. Prove an antiquity in their fiscal domicile, agency or establishment,...

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Detects SAT 600 thousand “ghost” companies.

Recently the news that the Tax Administration Service (SAT) identified 600 thousand risky companies that could be performing simulated billing operations to evade the Treasury was released. In this sense, Samuel Arturo Magaña Espinosa, Central Administrator of Planning and Programming of Federal Tax Audit, reported that they have also detected 13 thousand partners or shareholders of these companies denominated as "facades or ghosts". In addition, he pointed out that these companies belong to different sectors such as marketers, media, soccer, among others; and even, among the partners of these companies, politically exposed persons have been identified, and people already deceased have...

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Are the shareholders responsible for the tax debts of the legal entities?

The concern of businessmen is constant, from the moment in which the tax authority decides to initiate some faculty of verification, call domiciliary visit, review of cabinet, revision of opinion or electronic revision, that normally culminates with the determination of a fiscal credit (quantification liquidity of a tax liability), regarding the responsibility that this entails. That is, when one or two individuals operate through a legal person, in reality a legal fiction occurs, in which this new legal entity acts independently and separately from the shareholders, with its own personality, assets and responsibilities, such as general rule. In this order of ideas,...

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Fiscal Perspectives for 2019. Will there be new taxes, tax amnesty or greater collection?

In the face of the new administration (led by Andrés Manuel López Obrador) that will begin on December 1, 2018, it is extremely important to address the tax aspect, since it will be fundamental in the face of the spending projects that the president-elect has. It is essential to have sufficient income, which can be obtained, mainly, through oil or tax revenues. It has been mentioned that there will be no new contributions and that there will be no increase in existing taxes. Moreover, it has been said that there will be a VAT decrease in the northern area of our border,...

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IMF recommendation to strengthen transparency.

The International Monetary Fund (IMF), assured that it would be a very good idea for the next administration to guarantee fiscal transparency, taking advantage of its political capital. It is for the foregoing that Abdel Senhad, Deputy Director of Fiscal Affairs at the IMF, pointed out that an independent evaluation of Mexico's fiscal situation would send a signal of discipline to the authorities. Experts say that the entry of the new president-elect with a broad political capital, would be the ideal scenario to carry out reforms to promote transparency in the management of fiscal accounts. It is for this reason, that the...

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CONDUSEF warns about the impersonation of financial entities.

Once again, the National Commission for the Protection and Defense of Users of Financial Services (CONDUSEF) issued an alert for fraudulent use and impersonation of financial entities. The mechanism under which this fraud is carried out to users is as follows: The modus operandi involves generating false entities, which use information such as company name, addresses, telephones, logos, typography and image of the real financial entities, so that whoever contacts you can show off as an employee. Fraudsters offer loans to users of a financial institution, but because of this credit they are asked to grant an amount of money in advance for...

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AMLO promises increases to times over inflation.

Our elected president, Andrés Manuel López Obrador, at an event in Mérida, Yucatán, expressed his interest so that the country guarantees the increase of salaries in the future. The above, this time that - the purchasing power of the salary has been reduced by more than 70% in the last 30 years, this is the most part of the salary increases have been given by lower levels. Based on the above, our next president, we ensure that we have considered a constitutional reform so that there are no wage increases below inflation, this also, although our current regulatory framework that with the...

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The VAT and the Income Tax will have an adjustment in the border.

Since 2014, year when the Value Added Tax (Impuesto al Valor Agregado, IVA in spanish) were homologated to a rate of 16% all over the country, it has generated an enormous controversy about if the border IVA should decrease or not. Derived from this, our elected president, Andrés Manuel López Obrador, proposes the reduction of this tax at the rate of 8%. This change seeks to benefit the border regions to be more competitive against the United States in a price battle, since, these regions that live largely on tourism and industry, have a tax at a rate of 16%, it...

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PAN goes for the elimination of ISR.

The National Action Party (Partido Acción Nacional, PAN), proposed a new tax reform with the purpose to eliminate the collection of Income Tax for people with monthly incomes below $10,298.35 (Mexican pesos). With this initiative, it seeks to recover the purchasing power of the working population in Mexico, as well as seek to close the poverty and inequality gap in Mexico. However, let’s remember that the minimum wage already has a subsidy for the payment of ISR, so this measure will protect those who are above this salary payment. This initiative is added to the debate table prior to the tax reform proposed...

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The dollar in banks drops to 18.80 derived from NAFTA and AMLO.

The Mexican peso closed at its best level against the dollar since April 19, all this, since Mexico presented a proposal to the United States about the implementation of various rules in relation to the manufacture of cars, as well as a positive effect regarding comments by President-elect Andrés Manuel López Obrador. The foregoing represents that the national currency leaves aside the losses suffered recently, against a dollar that day by day is strengthened by an increase in the risk of a possible trade war between the United States and China, which has become even more dormant thanks to the recent...

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