With 258 votes in favor and 103 against, Deputies approved the income tax law and 2021 miscellaneous tax resolution, likewise and as a result of the income opinion, the relevant modifications were made primarily to the Income Tax Law (LISR by its acronym in Spanish), to the Value Added Tax Law, which are mentioned below:
The main changes within the Income Tax Law are the following:
- Section II of the second transitory article of the LISR is added to indicate that the condition to continue in Title III, that is, of the Regime of Legal Entities with Non-Profit Purposes of certain organizations will come into force as of July 1st., 2021.
- The ISR retention rates for incomes derived from digital platforms are modified, to be as follows (one-time rates): passengers ground services and goods delivery services decreased from 2.8 to 2.1%, hosting services from 5 to 4% and with respect to the sale of goods and provision of services from 2.4 to 1%.
The main change within the Value Added Tax Law is the following: trading companies that serve as intermediaries such as “Mercado Libre” and “Segunda Mano” must pay VAT.
In relation to the 2021 Miscellaneous Tax Resolution, it was approved regarding:
- The cancellation of digital stamps: the deadlines for submitting clarifications are modified, therefore taxpayer must submit said clarifications within 10 days, the foregoing due to the requirement of the SAT to notify taxpayer in case of any irregularity detected. After the 10-day period, the SAT may execute the cancellation of the seal.
- Confirmation of tax address: The taxpayer must confirm their tax address before the SAT to receive a refund of the balance in favor.
By last, some of the modifications mentioned in this document have been considered due to the economic impact that our country faces as a result of the pandemic generated by SARS-CoV2.
Giselle Villanueva Chagoya
Gloria Ponce de León & Hernández