CHANGES IN THE 2018 SECOND AMENDMENTS TO THE TAX LAW
On July 11th, 2018, the Ministry of Finance and Public Credit announced in the Official Gazette of the Federation the 2018 second amendments to the tax law. Which came into force on July 12th, 2018.
1.- Assets and liabilities transfer of a permanent establishment abroad.
The legal entities residing in the country that are taxpayers of the Income Tax Law Title II, who carry out business activities abroad and, as a result, constitute a permanent establishment, may transfer all of the assets and liabilities that make up the patrimony taxable by the activities of the permanent establishment, to another legal entity residing in Mexico that is on the same group of companies, defined in the terms of the Income Tax Law Article 24th. (2.1.54: addition)
2.- Requirements for the electronic signature (e.signature) certificate request and e.signature certificate renewal.
The Tax Administration Service provided the e.signature certificate as long as it meets the established requirements, additional information with the identity, address, and fiscal situation, in the same way that the Tax Administration Service will inform the applicants about the inconsistencies found; and will hand over “the filing acknowledgment with incomplete information for the e.signature certificate request and e.signature certificate renewal request”.
Applicants have a six days period starting from the following day to the application filing.
If the clarification is not made within the established time, the e.signature certificate request will be taken as not filed. The Unknown Administration of Taxpayer Services (ADSC) will solve the clarification within a 10 business days period starting from the following business day in which it was received. (2.2.15: addition)
3.- Taxpayers freed to submit the notice of settlement initiation and the Taxpayer Registration Number (TRN) cancellation by the total liquidation of the asset.
When the legal entities carry out their dissolution and liquidation through the website WWW.GOB.MX/TUEMPRESA and the information has proceeded, the Tax Administration Service will verify that they are up to date and their information is correct they may be freed of filing the liquidation initiation notice and the Taxpayer Registration Number cancelation notice by the total liquidation of assets. (2.5.21)
4.- Digital Tax Receipt cancelation acceptance.
When a Digital Tax Receipt issuer requires cancellation, it will have to request it through the Tax Administration Service website or it can also send the cancellation request through a tax mailbox. It can also cancel Digital Tax Receipts in bulk. (2.7.1.38)
5.- Adjustments to transfer prices
When transfer-pricing adjustments have an effect on the fiscal and accounting scope, they will be considered real adjustments and when the adjustments have effects only for fiscal scope, they will be considered virtual adjustments. (3.9.1.1)
