A decree published in the official journal in April 2016 provides changes to the commercial accounting standards to allow for electronic documentation retention rules.
The decree was published on 7 April 2016, and includes measures affecting Mexico’s commercial law and the federal criminal code. In general, the new measures expand the options for businesses to allow them to retain their records in electronic or other technologically advanced format approved by the Ministry of the Economy.
Records—whether retained in hardcopy (print) or electronic format—must be retained for a period of 10 years.
The changes to the federal criminal code add specific provisions making it a crime to counterfeit electronically stored documentation.
Read an April 2016 report (Spanish) [PDF 63 KB] prepared by the KPMG member firm in Mexico: Reforma al Código de Comercio y Código Penal Federal
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.