Dear Clients and Friends,
As we informed you in our alert sent last February regarding the tax reform, on December 9, 2019 a Decree was published in the Official Gazette of the Federation (DOF) which amended, added and repealed various tax provisions. Among others, a Sixth Title called “On the Disclosure of Reportable Schemes” was added to the Fiscal Code of the Federation (CFF) with a single chapter, comprised of Articles 197 to 202.
Article EIGHTH, section II, of the CFF’s transitional provisions establishes that the period of time set forth to comply with the obligations established in Articles 197 to 202 of the CFF, will begin to be computed as of January 1, 2021.
It also establishes that the reportable schemes that must be disclosed are those designed, marketed, organized, implemented or administered as of 2020, or prior to that year when any of their tax effects are reflected in the fiscal years comprised as of 2020. In the latter case, the taxpayers will be the only ones obliged to disclose.
The Miscellaneous Tax Resolution for 2021 published in the DOF on December 29, 2020, and which will be effective as of January 1, 2021, establishes the manner in which tax advisors and/or taxpayers must disclose to the tax authority the corresponding reportable schemes.
In case you require more information in relation to this subject, please consult our Tax Reform Bulletin 2020 in the link below.