December 2019
The 2020 Mexico Tax Reform modifies the Income Tax Law and the Value Added Tax Law, impacting companies and users engaged in the Mexican digital market. While the new tax reform requirements become effective June 1, 2020, preparations for timely compliance need to begin immediately.
The 2020 Mexico Tax Reform imposes incremental information gathering, reporting, and payment obligations on non-resident entities that provide digital services to Mexican customers. Although the new requirements are not effective until June 1, 2020, the systems, business considerations, and tax function preparations necessary for timely compliance should begin immediately in order to lessen business and economic impacts.