On October 19 and 20, 2020, the Plenary of the Chamber of Deputies approved (i) the opinion of the draft decree amending, adding and repealing various provisions of the Income Tax Law, the Value Added Tax Law and the Federal Tax Code; (ii) the opinion of the draft decree issuing the Federal Revenue Law for Fiscal Year 2021; and (iii) the opinion of the draft decree amending, adding and repealing various provisio
In general, the amendments to the tax provisions proposed by the Federal Executive were approved as they were presented on September 8 before the Chamber of Deputies. However, we consider it relevant to highlight some changes contemplated in the Draft Decrees. In this regard, the Federal Executive's initiative to apply complementary rates in addition to those already provided in the Special Tax on Production and Services Law for the sale and importation of automotive fuels (gasoline, diesel, non-fossil fuels or their mixture) was eliminated. Likewise, certain clarifications were incorporated into the provisions of the Federal Tax Code that regulate the conduct of the field audit, regarding the assessment of documents and other information provided by taxpayers and what is to be understood by detailing the facts or omissions that could entail non-compliance with the tax provisions. In addition, an increase of 6.57% is proposed in the fees for the exploitation and use of the radioelectric spectrum provided in the Federal Duties Law instead of the originally proposed 56.5% for the frequency band comprised in the ranges of 800 MHz and 850 MHz. As a result of the foregoing, the Draft Decrees were referred to the Senate for discussion and, where appropriate, approval in the coming months. In our publication of September 10, 2020, we commented on the topics that we consider relevant regarding certain amendments to the tax provisions, which may be consulted at the following link. We will continue to monitor the legislative process of the Draft Decrees and any relevant changes they may undergo. For additional information, contact our experts: Fernando Moreno, Partner: +52 (55) 5258 1008 | fmoreno@vwys.com.mx Jorge Díaz, Associate: +52 (55) 5258 1008 | jdiaz@vwys.com.mx Diego Benítez, Associate: +52 (55) 5258 1008 | dbenitez@vwys.com.mx
