Wednesday, 12 October 2016

Mexico: Tax package for 2017 presented

The 2017 tax package submitted by Mexico’s president to the congress on 8 September 2016 includes proposed changes to the income tax law, the VAT law and the federal fiscal code, among others. The bill now must be discussed by the congress, first in the House of Representatives and then in the Senate, with the debates expected to be concluded by the end of October. If approved, the measures generally would apply as from 1 January 2017.
It is important to note that, except for an increase in the fees for transfer pricing ruling requests to cover, among others, the costs related to an onsite functional analysis, there are no proposals related to Mexico’s implementation of BEPS recommendations. Further, no changes are proposed to the tax rates.

Source & more info: Deloitte