Mexico

Mexico

Besides Chile, Mexico is Latin America`s country with the most free trade agreements: altogether 13 agreements have been reached with 52 states, such as the North American Trade Agreement (NAFTA) with Canada and the US as well as one with the EU that was implemented in 2000. Mexico is LATAM`s most important receiving country for German imports. Currently, there are approximately 1900 companies with German capital totaling almost 35 billion USD registered with the Mexican Ministry of Economics. These companies are active in the sectors of automotive, pharma, chemistry and electronics as well as a series of small and medium sized companies working on high-tech solutions.

 

e-Invoicing

Since 2014 companies have to use the e- invoicing system CFDI (Comprobante Fiscal Digital a través de Internet). The invoicing system itself is not being implemented though the state but through third party providers called PACs (Proveedor Autorizo da Certificación). Since the end of 2017, companies additionally have to supply the so-called Complementos-de-Pagos documents which detail all inpayments to the tax authority. Accounting books also have to be deposited electronically. Invoices have to be archived for up to 10 years. More...

Mexico: Downpayment Management via CFDI

The Mexican Tax Administration (SAT) has defined with the new version 3.3 of CFDI how…

Mexico: New Tax Reform in 2020

At the end of October 2019, the Mexican Congress passed the new Tax Reform Act…

Mexico: Tax Reform 2020 levies VAT on Digital Platforms

The Mexican Congress passed a tax law reform package for 2020 on October 31, 2019.…

Mexico: Tax Proposal for Social Security Changes

After an initiative to revise certain social security benefits in Mexico has been rejected by…

Mexico: Economic Reform Package and Tax Measures for 2020

In September 2019, Mexican President AMLO presented to Congress a comprehensive economic legislation package for…

Mexico: Taxing Digital Platforms

With its new tax law proposal from September 5th, 2019, Mexico is trying to get…

Mexico: Introduction of Volumetric Controls

In August, Mexico introduced volumetric controls for the hydrocarbons and petroleum industry. Consequently, companies in…

Mexico: New regulatory Requirements for Labor Subcontracting

On August 20, 2019, new rules have been introduced in Mexico with view to information…

Legal Tussle Prevents $2.5 Billion Gas Pipeline to Mexico From Opening

“Despite fuel shortages, López Obrador’s administration challenges natural-gas distributors, rattling private-sector investors.”

Mexico: Deadline for Voluntary Disclosure Program

What is the program about? Mexico’s Programas de Auto Regularización (Voluntary Disclosure Program) targets taxpayers…