On December 29th, 2023, the General Tax Rules (Resolución Miscelánea Fiscal in Spanish) for the fiscal year 2024 was published, as well as exhibits 1, 5, 8, 15, 19 and 27. The purpose of such document is to gather the general provisions on taxes, products, benefits, contributions for improvements and tax rights, with the exception of those related to foreign trade.
Among the amendments to the General Tax Rules, we identified two of utmost importance worth considering for the day-to-day operation of companies in Mexico.
Among the annual obligations of establishments, whether commercial, industrial, or service establishments, it is the renewal of the corresponding municipal business license, as well as of advertisements, as applicable.
Nearshoring between Mexico, the United States and Canada is emerging as a key business strategy in today's international business landscape. Geographical and cultural proximity from the main markets, supported by trade agreements such as the United States–Mexico–Canada Agreement or USMCA, offers companies the opportunity to optimize their operations and reduce costs without sacrificing quality. Tax incentives implemented by the Mexican government add an additional attraction, providing strategic sectors with a framework for growth and investment. In this context, nearshoring not only boosts efficiency and competitiveness, but also contributes to sustainable economic development in the region.
As of October 22nd, 2023, foreign individuals who intend to transit through Mexican international airports must, in all cases, have a visitor visa (non-eligible to carry out professional paid activities).
In order to facilitate and optimize meetings of the shareholders and management bodies of corporations and companies in Mexico, on October 20, 2023 an amendment to the General Law of Commercial Entities was published, which allows, among other matters, that shareholders and board meetings to be held through any electronic, optic or technological means (such as videoconference meetings though electronic platforms).
Given the restrictions caused by COVID-19, which brought a greater need for the use of electronic means in daily life, the Senate approved this past September 12th a series of amendments to the General Law of Commercial Companies to allow the holding of Assemblies and Corporate Meetings through electronic means and in this way expedite and give full legal certainty to their celebration.
As result of the 2022 Tax Reform, Companies and Notaries Public are required to comply with new information obligations set for in the Federal Tax Code (Articles 32 B Ter, 32 B Quater and 32-B Quinquies) and the General Tax Regulations (Rules 2.8.1.20., 2.8.1.21., 2.8.1.22. and 2.8.1. 23.) in connection with the identification of the Controlling Beneficiary, and the collection of certain documents of such Beneficiary. The Controlling Beneficiary may be a national or foreign individual, and the above-mentioned regulations provide documents and criteria for his/her identification.
The Federal Economic Competition Commission in Mexico ("COFECE") published on July 3, 2023 a notice informing of the investigation that commenced since January 6, 2023, as a result of a complaint received in connection with the possible commission of relative monopolistic practices (abuse of dominance) in the digital products and/or services market (including development, commercialization and sale activities), and related services.
On November 30th, 2022, the government of the State of Guanajuato published the addition of Chapter Eight to Title Two of the Treasury Law for the State of Guanajuato (LHEG, by its acronym in Spanish), setting forth the Environmental Remediation Taxes.
Last June 8 th , 2023, the Ministry of Labor and Social Welfare (STPS, by its acronym in Spanish) published the "NOM-037-STPS-2023 Mexican Official Standard on Teleworking - Occupational Health and Safety Conditions”; this standard sets forth the occupational safety and health conditions that shall prevail in those places where teleworkers provide their services.
Following the publication that established the merchandise whose importation into the country is subjected to regulation by the labor authority (February 2023), The Ministry of Labor and Social Welfare (STPS, by its acronym in Spanish) published on May 18 th , 2023, the mechanism to restrict the importation of merchandise produced by forced or mandatory labor, which includes the procedures that may be initiated by request of any interested party or through an investigation ex-officio by the authority.
On May 17 th , 2023, the Ministry of Labor and Social Welfare (STPS, by its acronym in
Spanish), in collaboration with the Ministry of Finance (SHCP, by its acronym in Spanish) and
the Tax Administration Service (SAT, by its acronym in Spanish), issued an official statement
reminding all those individuals or legal entities who provide specialized services or perform
specialized work, without having the corresponding registration, that they may be sanctioned
with the crime of tax fraud for this lack of registration.
