FEDERAL TAX CODE
CFDI CANCELLATION
Tax receipts can only be cancelled during the tax year in which they were issued, as long as the person on whose behalf they were issued accepts their cancellation. The reason for this cancellation must be justified and supported with documents. A cancellation after the deadline will result in a fine of 5-10% of the amount of each CFDI canceled inappropriately.
CFDI FOR REFUNDS, DISCOUNTS OR BONUSES
They cannot be issued to cancel income CFDIs, otherwise, they will not be deductible. Refunds, discounts or bonuses must be justified and documented before the tax authorities.
SUSPENSION OF DIGITAL STAMPS
- A partner or shareholder with effective control is on the SAT´s blacklist.
- A RESICO taxpayer misses 3 or more monthly payments in a calendar year, whether consecutive or not, or the annual tax return.
- Oppose the visit to the tax domicile.
- To not provide the data and reports legally requested by tax authorities.
- To not provide the accounting or part of it.
- To not provide the documents required by the authority.
- Authority notes that the income, the value of the taxable acts or activities and/or the tax withheld, indicated in the declarations, or the informative declarations, do not correspond to the income or the value of the acts or activities indicated in the CFDI, the payment complements or the account statements.
ADULTS MUST REGISTER IN THE RFC (TAX ID)
SAT will update the economic activities and obligations of taxpayers when there is a discrepancy between the description of the goods, merch, services or use or enjoyment indicated in the cfdi and the economic activity registered on the rfc. Simulation of the provision of professional services will result on the same penalty as a tax fraud (crime). SAT may deprive of effects the cfdi issued by a taxpayer when it supports operations carried out by a third party. The following goods can be seized, including through the electronic tax mailbox:
- Bank deposits, savings, or investment items associated with life insurance
- Stocks, bonus, due coupons, furniture value
- Properties intangibles
TAX OPINION
Financial statements must have the opinion of a certified public accountant, in the case of entities that pay taxes under Title II of the Income Tax Law and that have earned cumulative income higher than $1,650,490,600 in the immediate past financial year. Tax authority should also be informed when, after the preparation of the opinion, it appears that the taxpayer has not complied with tax or customs provisions, or has carried out a conduct that may constitute a tax crime. In case of not making it, the accountant is responsible for concealing tax crimes. Income Tax Law EXCHANGE RATE The exchange profit and loss must not be less or higher, respectively, than what would result from considering the exchange rate to settle obligations denominated in foreign currency to be paid in Mexico established by the Bank of Mexico UNCOLLECTIBLE ACCOUNTS taxpayers must obtain the final resolution issued by the competent authority, demonstrating that collection efforts have been exhausted or, where appropriate, that it was impossible to enforce the favorable resolution. INVESTMENT DEDUCTION The initial investment amount (MOI) must include expenses related to the preparation of the physical site, installation, assembly, handling, delivery, fees to customs agencies and/or services incurred to operate the investment; therefore, these items cannot be considered as expenses in the fiscal year in which they are disbursed. FIXED ASSET UNREGISTER A notice must be submitted regarding assets that are no longer useful for generating income, in addition to keeping them with a value of one peso in the accounts. Value Added Tax Law ACTS OR ACTIVITIES NOT SUBJECT TO VAT Acts or activities not subject to VAT are those that are not carried out in national territory or that are different from the alienation of goods, the provision of independent services, the granting of the temporary use or enjoyment of goods and the importation of goods. IMPORT VAT The customs request must be on behalf of the taxpayer who intends to prove the tax paid on importation.
IMPORTANT
- Mandatory use of the bill of lading from January 1, 2022.
- New version 4.0 for the issuance of electronic invoices.
- New version 2.0 of the payment complement. The Simplified Trust Regime (RESICO) for natural persons and legal entities enters into force on January 1, 2022.