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Changes to Tax Laws for 2022

Updated: Jul 12, 2022

Art. 8 LISR Foreign Exchange Fluctuation

It is established that the gains from exchange fluctuation differences will be determined considering the exchange rate to settle obligations established by the Bank of Mexico (Banxico) in the Official Gazette of the Federation (DOF), on the date on which said gain is received. Previously, only losses were referred to.

Art. 14 LISR Decrease of provisional payments

It is clarified that the planned authorization to reduce provisional payments refers to the decrease in the profit coefficient for the year and not to the provisional payments that derive from the payment mechanics.

Art. 24 LISR Business Reason

The business reason will be one of the aspects that the tax authorities will evaluate to maintain or deny various tax benefits such as the disposal of shares at tax cost or the deferral of the ISR payment derived from international restructurings, as well as the non-existence of a disposal of assets in splits and mergers.

Art. 27 LISR Deductibility for the acquisition of fuels

Article 27, section III, second paragraph of the Income Tax Law is reformed, in order to establish as a deduction requirement for the purchase of fuel that the information on the current permit, issued under the terms of the hydrocarbons law, be recorded on the invoice. to the fuel supplier and that, where appropriate, said permit was not suspended, at the time the invoice was issued.

Art. 27 LISR Uncollectible Loans

Article 27, section XV, second paragraph, subparagraph b) is amended, in order to indicate that it will only be considered that there is a notorious impossibility of collection (which allows the deduction of an uncollectible credit) the credits that on the due date are greater to 30,000 UDIS and when the creditor exhausts all legal means to make the collection, that is, when he obtains a final resolution issued by a competent authority.

Art. 31 LISR Original Investment Amount

The concept of the original amount of the investment is modified in order to include concepts such as physical location, installation, assembly, handling, delivery and contracted services for the investment to work.

Art. 32 LISR acquisition of the right to temporary use and enjoyment of property

A third paragraph is added to article 32 of the Income Tax Law, in order to specify that the temporary use and enjoyment of property constitutes a fixed asset to which the 5% deduction rate is applicable.

Art. 28 LISR Calculation of allowable deduction for interest

When the option of considering the taxpayer's fiscal accounts (CUCA and CUFIN) is exercised, the amount of fiscal losses pending amortization must be reduced. This option cannot be chosen if the result of considering the tax attributes is greater than 20% of the stockholders' equity for the year in question, unless the business reason is demonstrated in the event of a review by the authority.

Art. 182 LISR Assembly plant of export -oriented products

Assembly plant of export -oriented products will not be able to document compliance with transfer pricing obligations through the Advance Pricing Agreement (APA). The only valid mechanism will be the one known as "Safe Harbor".

Art. 4-A LIVA Activities that are not considered carried out in national territory

An article 4º.-A is added to the VAT law, to specify the concept of activities not subject to the tax, specifying as such those that the taxpayer does not carry out in national territory in accordance with the provisions of articles 10, 16 and 21 of this system, as well as those different from those established in article 1 of the VAT law (that is, those different from alienation, provision of services, leasing and importation). It is specified that VAT on expenditures associated with income not subject to the tax is not creditable.

Art. 5 LIVA Obligation in the preoperative period.

Article 5, section VI, second paragraph, of the VAT law is reformed in order to establish for taxpayers the obligation to inform the tax authority when they leave their pre-operational period (they must inform the month in which starts its activities for VAT).

Art. 32-A CFF Fiscal Opinion

Some modifications were also made in the CFF, one of the notable ones being the reestablishment of the tax opinion obligation. Taxpayers with cumulative income in the previous fiscal year greater than $1,650,490,600 must have their financial statements audited by a public accountant registered with the Tax Administration Service (SAT); while its related parties residing in Mexico that do not exceed those incomes must present the declaration with the report of their fiscal situation. The tax opinion for the year 2022 must be presented no later than May 15th, 2023. It should be noted that through a transitory provision of general rules it is indicated that the presentation of the tax opinion for the year 2021 is no later than July 15th 2022.

We inform you that this information provides general information based on the current laws and regulations, and in case of an individual report, be sure to receive advice from an expert before handling it.

Reproduction, partial or full distribution without the approval of Dowoo Accounting S de RL de CV is prohibited.

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