Mexican decree discontinues tax certification process
February 16, 2011
After a decree, issued on June 30 2010, proclaiming an administrative simplification of tax compliance, Mexican taxpayers have the option to discontinue the tax certification process (Dictamen Fiscal) that was largely mandatory up until 2010. Jorge Castellon, of Ernst & Young, examines the transfer pricing requirements for taxpayers who choose to opt-out of the process.
One of the most critical aspects of the certification relates to transfer pricing. The external auditor was required to verify a taxpayer’s formal compliance with a host of transfer pricing requirements established in the Mexican Income Tax Law.
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