Tax Reform 2019 in Mexico

Berlin, 18.03.2019 (PresseBox) – On 28th December, 2018, the official Mexican gazette – the Federation Income Law (FIL) – was published for 2019, enforcing the following most relevant legal amendments.
Suspension of universal compensation of taxes
Anti-laundering notices for outsourcing
Tax incentives for the northern border region
validity: January 2019 to December 2022
reduction of VAT in the north border region from 16% to 8%
reduction of corporate income tax from 30% to 20%
Tax incentives for income tax and VAT will not be considered as taxable income for the purposes of income tax.
areas benefitting and the municipalities of the states of:
[list]
Baja California: Ensenada, Playas de Rosarito, Tijuana, Tecate and Mexicali
Sonora: San Luis Río Colorado, Puerto Peñasco, General Plutarco Elías Calles, Caborca, Altar, Sáric, Nogales, Santa Cruz, Cananea, Naco and Agua Prieta
Chihuahua: Janos, Ascensión, Juárez, Praxedis G. Guerrero, Guadalupe, Coyame del Sotol, Ojinaga and Manuel Benavides
Coahuila de Zaragoza: Ocampo, Acuña, Zaragoza, Jiménez, Piedras Negras, Nava, Guerrero and Hidalgo
Nuevo León: Anáhuac
Tamaulipas: Guerrero, Mier, Miguel Alemán, Camargo, Gustavo Diaz Ordaz, Nuevo Laredo, Reynosa, Rio Bravo, Valle Hermoso and Matamoros
Subjects
legal entities that pay into the general regime
legal entities with the option of accumulation based on effective collection
individuals who pay into the general regime of individuals with business and professional activities
[/list]
The third amendment provides exciting opportunity to keep current investments and to bring new investment into this area of the country. We foresee that the current business landscape in the north will make it an attractive and competitive region for national and international industries, given these incentives.
At ECOVIS Quibrera Saldaña, Mexico, we provide consulting services in the establishment, taxation and auditing of national and foreign businesses.
Author:
Ricardo Quibrera Saldaña, Partner/Chartered Accountant, ECOVIS Quibrera Saldaña, Santa Fe, Mexico
ricardo.quibrera@ecovis.mx

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