2014 Mexican tax reform package

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Tax accounting insights 01/07/2014 by Tax accounting services
2014 Mexican tax reform package

At a glance

Tax accounting considerations of the 2014 Mexican tax reform package.

In December, Mexico enacted the 2014 tax reform package, which will have immediate and ongoing income tax accounting consequences for many organizations. Companies with operations in Mexico should determine the impact of the new legislation on their financial statements under either US Generally Accepted Accounting Principles (US GAAP) or International Financial Reporting Standards (IFRS).