WTS in Mexico

During 2020 and 2021, several customs criteria and procedures were modified. Therefore, there is a new parameter to be considered in the compliance for daily import and export operations.

Resulting from the update to the North American Free Trade Agreement (NAFTA), on 1 July 2020 the Agreement between Mexico, the United States and Canada (USMCA) entered into force, which has 34 chapters, highlighting the implementation of regulations related to digital trade, labour issues, anti-corruption, customs administration, etc.

On 31 December 2020, the Decree of the Chetumal Free Zone was published in the DOF, granting an incentive to companies that commercialise goods or services in that border region. This Decree will be in effect between 1 January 2021 and 31 December 2024.

Taxation of Digital Economies - Update

The Executive Branch submitted to the Federal Congress a set of tax reforms in several matters in respect to which we stress those referring to (a) foreign tax transparent entities, (b) foreign figures and (c) foreign (non-transparent) controlled entities subject to REFIPRES

The inheritance and gift tax exemption would amount to $10 million pesos

Following OECD recommendations, the programme may have been non-compliant taxpayers’ last opportunity to correct their tax affairs