By KELIN DILLON More than 23,000 trials pertaining to tax-related issues were carried out in Mexico during 2021, a significant increase from the pandemic-afflicted year of 2020, when only 11,871 trials of the same nature took place. However, considering the Federal Court of Administrative Justice (TFJA) was closed from March 18 to June 30, 2020, due to covid-19 pandemic health
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By THE PULSE NEWS MEXICO STAFF Mexico’s Supreme Court on Wednesday Jan. 19, determined that Grupo Elektra, one of the country’s leading financial and commercial services corporations, owned by businessman Ricardo Salinas, must pay 2.636 billion pesos in back taxes for a credit derived from alleged illegal deductions in the company’s annual income tax declaration for 2006. After nearly four
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OPINION By JUAN DE JESÚS BREENE Like everything else with an uncertain future, predictions for the year ahead are just that: prognoses that could or could not come to pass. That said, and with no crystal ball in hand, here are four broad predictions that most likely could be agreed upon by most in the Western Hemisphere for 2022: emerging
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By KELIN DILLON After striking union workers reached the front steps of Mexico’s Chamber of Deputies on Tuesday, Dec. 14, legislators suspended their in-progress session and fled the scene as the workers attempted to enter the plenary hall. The dissenting laborers were acting in protest of the administration of the Chamber of Deputies’ Dec. 13 decision to remove income tax
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By KELIN DILLON On Tuesday, Dec. 14, Mexico’s Tax Administrative Service (SAT) revealed its new methodology to acquire owed taxes from debtors in 2022, with the newfound jurisdiction to seize assets from taxpayers’ bank deposits, properties, savings accounts, insurance investments, stocks, bonds and real estate as a form of repayment. Now, taxpayers will be held directly responsible for reviewing notifications
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By THE PULSE NEWS MEXICO STAFF Mexico’s Tax Administration Service (SAT) seems to have overharvested its big-corporation settlement program, leaving the Andrés Manuel López Obrador’s (AMLO) administration’s proverbial goose-that-lays-the-golden-egg revenue source quite literally overtaxed. According to figures from the Finance Secretariat (Hacienda), in the first 10 months of this year, the SAT collected just 148 billion pesos from audits of
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By KELIN DILLON Early in the morning of Wednesday, Oct. 27, Mexico’s Senate approved the country’s new Income Package for 2022 in a 66 to 44 vote, without making any changes to the initiative. Though opposition parties presented more than 400 potential issues with the initiative, majority senators from the in-power National Regeneration Movement (Morena) rejected their reservations one-by-one. The
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By KELIN DILLON After more than 30 hours of debate, Mexican President Andrés Manuel López Obrador’s (AMLO) income package finally passed through Mexico’s Chamber of Deputies on Wednesday, Oct. 20, sending it on to the Senate for further approval. The Chamber of Deputies passage left in place the controversial provision that reduces the amount of money individuals and companies can
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By KELIN DILLON On Monday, Oct. 18, Mexican President Andrés Manuel López Obrador’s (AMLO) 2022 National Income Package was approved by the Chamber of Deputies’ Economic Commission, including all its proposed reforms to the nation’s Income Tax Law (ISR). The package, which now passes to the full Chamber for passage, controversially proposes the registration of all legal Mexican adults over
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By KELIN DILLON Mexico’s Commission of Finance and Public Credit of the Chamber of Deputies introduced its 2020 Income Package on Saturday, Oct. 16, to be debated and voted on Monday, Oct. 18. The package reveals an anticipated 4.1 percent Gross Domestic Product (GDP) growth and an estimated exchange rate of 20.3 pesos to the U.S. dollar, as well as
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