News about tax compliance management in Mexico. During the last few days, the Tax Administration Service published a new tax obligation, which consists of requesting companies to provide the government with information on their partners or shareholders, in accordance with the Article 27 of the Federal Fiscal Code (CFF).
Rule 2.4.19 of the Miscellaneous Fiscal Resolution (RMF) for 2020 establishes that corporations must present a notice, in which they will inform the name and the RFC (Federal TAX ID) code of the partners or shareholders each time a modification or incorporation is made, in accordance with form 295/CFF “Notice of update of partners or shareholders”, contained in Annex 1-A, within thirty working days.
The transitory 46th of the RMF 2020 establishes that corporations that do not have updated information on their partners or shareholders, i.e. if the company integrated a partner, terminated a partner or there was a change in partners or shareholders since its registration in the federal registration and this has not been reported, must also give notice. The only requirement is that each partner must have RFC and the deadline for this presentation is June 30, 2020.
In case of not complying this notice with the Secretary of Finance may result in the imposition of fines by the tax authority, subject to the particular case, ranging from $1,400 Mexican Pesos to the amount of $34,730 Mexican Pesos, up to the cancellation of the digital seals used for billing and other transactions.
It is important to mention that this obligation is independent of that established in the General Law of Commercial Companies in Mexico, in which companies are required to make several notices of corporate movements and their current corporate structure through the Electronic System of Publications of Commercial Companies of the Ministry of Economy.
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