Tax News Mexico July 2017

Transcripción

1 Tax News July 2017

2 Tax Invoice

3 Tax invoice (CFDI Version 3.3) In force beginning July 1, An extension was given until November 30, to keep using Version 3.2 As of December 1, 2017, the only valid version to issue electronic tax invoices will be version Galaz, Yamazaki, Ruiz Urquiza, S.C. 3

4 CFDI payment complemento In force beginning July 1, An extension was given until November 30, only to taxpayers issuing CFDI Version 3.3. Taxpayers issuing CFDI in Version 3.2. will be compelled to attached the Complemento de Recepción de Pagos. Shall be incorporated into the CFDI issued by the receipt of installments, and also when paid in full Galaz, Yamazaki, Ruiz Urquiza, S.C. 4

5 CFDI payment complemento (2) One complement may be issued per each payment received or, one for all payments received in a period of one month, provided that these correspond to the same client. Must be issued no later than the tenth calendar day of the month immediately following the corresponding payment (s) received Galaz, Yamazaki, Ruiz Urquiza, S.C. 5

6 CFDI payment complemento (3) The consequences for the taxpayer not issuing the payment complement within the allowed period are: The infraction contained in article 83 section VII, wich corresponds to a fine from US$700 to US$4,060 aprox. In the event of a repeat offense, the tax authorities may additionally close preventively the establishment of the taxpayer for a period of three to fifteen days Galaz, Yamazaki, Ruiz Urquiza, S.C. 6

7 CFDI payment complemento (4) The consequences for the taxpayer not receiving the payment complement within the allowed period are: Lack of documentary support to credit VAT. Problems to deduct expenses for Income Tax purposes Galaz, Yamazaki, Ruiz Urquiza, S.C. 7

8 CFDI payment complemento (5) If the maquiladora is already issuing CFDI V. 3.3, it has an exemption to issue CFDI with the payment complemento until November 30. Eventually on December 1 st, the maquiladora will be compelled to issue CFDI with the payment complemento, therefore, it will be necessary to identify the wire transfers to the corresponding invoice. When receiving invoices from your suppliers: Check which version it s been used by the supplier. If the supplier is using CFDI V. 3.2., you will need them to issue the maquiladora a CFDI with the payment complement whenever the payment to the supplier is made Galaz, Yamazaki, Ruiz Urquiza, S.C. 8

9 Tax invoice (CFDI) cancellation process In force January 1, When the issuer of a CFDI wants to cancel it: The issuer will send to the recipient of the CFDI cancellation request through the tax mailbox. The receiver must manifest through its own tax mailbox, within the next 72 hours, the acceptance or denial of the cancellation of the CFDI. SAT will consider that the receiver accepts the cancellation of the CFDI if after the deadline, it does not make any manifestation Galaz, Yamazaki, Ruiz Urquiza, S.C. 9

10 Tax invoice (CFDI) cancellation process The issuer of a CFDI can cancel it without permission of the receiver in the following cases: CFDI covers income for up to MXP$5,000 (USD$294 approx.) Payroll concept Expenses concept Transference concept (for freights only) CFDI issued to RIF taxpayers. CFDI issued by SAT s online tool "Mis Cuentas" in the Factura Facil app CFDI regarding withholdings and payment information. CFDI issued in operations conducted with the general public. CFDI issued to residents abroad. When the cancellation takes place within three days after its issue. When invoicing revenue from sale or lease of real estate, When issued by taxpayers with agricultural, forestry, livestock or fishing activities that use a certified third party to invoice. Those issued by the members of the financial system Galaz, Yamazaki, Ruiz Urquiza, S.C. 10

11 Capital Repatriation Decree Extension

12 Capital Repatriation Decree An extension to the validity of the Decree was granted by the President. It is in force until October 19. Applicable to: Individuals Corporations Foreign residents with a permanent establishment in. within the allowed period are: For income obtained from direct and indirect investments held abroad until December 31, Galaz, Yamazaki, Ruiz Urquiza, S.C. 12

13 Capital Repatriation Decree (2) Not applicable to: Income from an illegal activity. Income that has been deducted by a resident in or by foreign residents with a permanent establishment. Since the original publication, the Decree was modified in order to allow its application to those who are subject to audit by SAT (article 42 section II, III, IV and IX of the Federal Tax Code), in specific with the income obtained from direct and indirect investments held abroad, if they correct their tax situation, or if they abandon the legal defense previously submitted 2017 Galaz, Yamazaki, Ruiz Urquiza, S.C. 13

14 Capital Repatriation Decree (3) The returned capital must remain in the country for a minimum of 2 years. The return of capital must be made through institutions from the financial system or brokerage houses. The returned capital should be allocated to the following investments :. Fixed assets. Land and buildings located in. R&D. Payment to creditors, that are not related parties, generated before January 18, Investments in through financial institutions or brokerage firms Galaz, Yamazaki, Ruiz Urquiza, S.C. 14

15 Capital Repatriation Decree (4) The fiscal incentive consists of, applying the 8% rate to the total of the returned capitals, without deduction. The income tax paid abroad can be credited against the tax. The tax must be paid no later than 15 days after the date on which the capital is returned. The returned capital creates taxable base for PTU The returned capital creates CUFIN (taxable profit account to distribute dividends) Galaz, Yamazaki, Ruiz Urquiza, S.C. 15

16 Tax Miscellaneous Rules Second Amendment

17 Second Amendment to the Tax Miscellaneous Rules The income received by maquiladoras from incentives, support or economic aid, allocated by the Federation, the Federal Entities or the Municipalities, may be considered as related income to their maquila operation Galaz, Yamazaki, Ruiz Urquiza, S.C. 17

18 Second Amendment to the Tax Miscellaneous Rules An extension was granted to comply with the obligations established in the Income Tax Law, when hiring personnel through outsourcing companies, for the obligations corresponding to the months of January to November 2017 and subsequent May be fulfilled as of December 2017, using the computer application to be disclosed in the SAT Portal Galaz, Yamazaki, Ruiz Urquiza, S.C. 18

19 Second Amendment to the Tax Miscellaneous Rules Taxpayers who intend to deduct or credit tax based on invoices issued by residents abroad, may use said invoices as long it has the following requirements: In the case of the sale or lease of goods, the amount of taxes withheld, as well as the taxes transferred, or attached to said invoice, the CFDI issued by the taxpayer for the tax withholding made to the resident abroad Galaz, Yamazaki, Ruiz Urquiza, S.C. 19

20 Héctor Silva Tax Partner +52 (664) Blanca Montaño Tax Senior Manager +52 (664) Deloitte se refiere a Deloitte Touche Tohmatsu Limited, sociedad privada de responsabilidad limitada en el Reino Unido, y a su red de firmas miembro, cada una de ellas como una entidad legal única e independiente. Conozca en la descripción detallada de la estructura legal de Deloitte Touche Tohmatsu Limited y sus firmas miembro. Deloitte presta servicios profesionales de auditoría, impuestos, consultoría y asesoría financiera, a clientes públicos y privados de diversas industrias. Con una red global de firmas miembro en más de 150 países, Deloitte brinda capacidades de clase mundial y servicio de alta calidad a sus clientes, aportando la experiencia necesaria para hacer frente a los retos más complejos de los negocios. Cuenta con más de profesionales de Deloitte están comprometidos a lograr impactos que trascienden. Tal y como se usa en este documento, Deloitte significa Galaz, Yamazaki, Ruiz Urquiza, S.C., la cual tiene el derecho legal exclusivo de involucrarse en, y limita sus negocios a, la prestación de servicios de auditoría, consultoría fiscal, asesoría financiera y otros servicios profesionales en México, bajo el nombre de Deloitte. Esta publicación sólo contiene información general y ni Deloitte Touche Tohmatsu Limited, ni sus firmas miembro, ni ninguna de sus respectivas afiliadas (en conjunto la Red Deloitte ), presta asesoría o servicios por medio de esta publicación. Antes de tomar cualquier decisión o medida que pueda afectar sus finanzas o negocio, debe consultar a un asesor profesional calificado. Ninguna entidad de la Red Deloitte, será responsable de pérdidas que pudiera sufrir cualquier persona o entidad que consulte esta publicación.