Individuals determined to be residents of Mexico (for tax purposes) must file an information declaration of preferential tax regimes in 2017 with respect to fiscal year 2016. The information statement is required when the taxpayer:
For Mexican tax purposes, a foreign legal entity is considered transparent when:
In addition, Mexico’s income tax law considers trusts, associations, investment funds, and any other similar legal structure of foreign law that does not have its own legal personality as foreign legal entities.
Although each instance must be separately considered and analyzed, “physical persons” that are residents for tax purposes in Mexico must present this information return or statement if they:
The Mexican tax authorities are not expected to reissue the rules that would allow non-filing of the return, and thus, it would need to be filed no later than 31 May 2017 to avoid certain penalties.
Read an April 2017 report (Spanish) prepared by the KPMG member firm in Mexico
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