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Mexico: Economic Reform Package and Tax Measures for 2020

In September 2019, Mexican President AMLO presented to Congress a comprehensive economic legislation package for the year 2020. He emphasized that the tax burden should not increase, but that tax collection must be strengthened. Consequently, the package also focuses on measures to combat tax evasion. What tax measures does the package contain? These are the…

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Mexico: Taxing Digital Platforms

With its new tax law proposal from September 5th, 2019, Mexico is trying to get a hold of service providers abroad that offer digital platforms. In contrast to businesses that sell goods and services in fixed premises, digital service providers have so far enjoyed significant tax advantages. The new law proposal suggests changes to the…

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Brazil: Update of e-Social implementing Schedule

In line with Brazil`s Ministry of Economy goal to simplify the eSocial tax, social security and labor obligations Digital Bookkeeping System, a new implementation schedule for e-Social has been introduced.   What has changed for e-Social? The deadlines for the delivery of the periodic events and the replacement of the FGTS Gathering Guide and Social…

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Brazil: Confaz published 3 new ICMS Agreements

On September 2, 2019, Brazil`s National Council of Finance Policy (Confaz) published 3 new ICMS agreements:   ICMS AGREEMENT No. 139 Authorizes the State of Piauí to institute an amnesty program for ICM and ICMS-related tax debts as specified.   ICMS AGREEMENT No. 140 Provides for the accession of the State of Roraima to the…

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Mexico: Introduction of Volumetric Controls

In August, Mexico introduced volumetric controls for the hydrocarbons and petroleum industry. Consequently, companies in these sectors need to equip their counting and ERP- programs accordingly.   What is volumetric control? Volumetric controls require a record of all volumes of entry, exit and stocks, subject to the operations of taxpayers, associated with the invoices or…

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Brazil: Latest Technical Notes

Gas Market A Joint Technical Note was published by the Ministries of Economy on 08/07/2019. It summarizes the measures taken by the National Energy Policy Council (CNPE) on June 24, 2019, which instituted the beginning of the New Gas Market (NMG).   Subsidies for Liquefied Petroleum Gas (LPG) The SEI Technical Note No. 12/2019 /…

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Brazil: The latest SPED Updates

New ECF Version On July 31st, 2019, the ECF program version 5.1.7 has been published with the following changes: Improved performance of program validations Update ECF Accounts End Balance Comparison Rule Update with Current Error ECF Accounts Initial Balance for Warning However, the ECF program versions 5.1.5 and 5.1.6 may still be used for transmission.…

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Brazil: The End of Bloco K – SPED?

The Provisional Measure of Economic Freedom aims to reduce bureaucracy in Brazil and facilitate the opening up of micro and small enterprises. Among the key changes are the relaxation of labor rules and the elimination of permits for low-risk activities. The measure also separates the assets of corporate partners from debts of a legal entity…

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Mexico: New regulatory Requirements for Labor Subcontracting

On August 20, 2019, new rules have been introduced in Mexico with view to information that have to be submitted to the fiscal authorities for labor subcontracting. The changes are outlined in the “First Resolution of Amendments to the Miscellaneous Fiscal Resolution for 2019” (Primera Resolución de Modificaciones a la Resolución Miscelánea Fiscal para 2019).…

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Brazil: New Tax Rates Proposal

The Bill that introduces new tax tables is part of President Jair Bolsonaro’s campaign goal of exempting taxpayers with incomes of up to five times the minimum wages as well as easing the corporate tax burden and taxing profits and dividends.   Which Changes are introduced by the new Bill? Bill 3129/19 updates the values…

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