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Mexico: Amendments to income tax law

Mexico: Amendments to income tax law

Tax legislative amendments have been published in the official gazette.

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The legislative changes—la Cuarta Resolución de Modificaciones a la Resolución Miscelánea Fiscal para 2018 y sus anexos 1, 1-A, 3, 7, 11 y 23—reflect amendments to various rules under the income tax law, the value added tax (VAT) law, and other tax legislation. Topics of areas reflecting changes include or concern:

  • Trusts and fiduciary accounts
  • Procedures for investment funds to determine income tax on returns from investments in derivative financial operations 
  • Trust assets used in the acquisition or construction of real estate
  • Disposals of intangible assets made with respect to individuals residing abroad
  • Expenses incurred with respect to commercial activities under a contract with a union 
  • The cost of goods sold for taxpayers conducting commercial activities that involve the acquisition and transfer of goods 
  • Modifications to the arm’s length value determination of transactions with related parties within the interquartile range

 

Read a December 2018 report (Spanish) prepared by the KPMG member firm in Mexico

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