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Mexican Tax Authority Enables Filing Software For DIEMSE 2014

Author:Mr Juan Valles Zavala, Carlos Bacópulos-Castañeda and Ramón Campos Rivera
Profession:Baker & McKenzie

The Mexican Tax Administration Service ("Tax Authority") has enabled the software that shall be utilized by maquiladora companies to file the Informative Return of Maquila Operations and Exportation of Services ("DIEMSE") correspondent to fiscal year 2014. Companies that operate in Mexico through "shelter" entities are also obliged to file the DIEMSE.

Filing software shall be accessed through the Tax Administration webpage, where the companies will have to fill the information required by the Tax Authority in DIEMSE for 2014.

It is important to bring to your attention that the Tax Authority deferred the obligation of filing the DIEMSE correspondent to fiscal year 2014 until March 15, 2016. Due date for DIEMSE 2015 remains the last day of June 2016, in accordance with second paragraph of Article 182 of the Income Tax Law.

Among the different data and amounts required upon filing of DIEMSE for 2014, the Tax Authorities have requested highly detailed information in connection with several aspects of the maquila operation of the filing companies, such as:

Whether maquiladora companies determined its taxable profit utilizing the Safe Harbor method or an Advanced Pricing Agreement ("APA") with the Tax Authority. Detailed amounts of maquila and non-maquila income generated by the filing company. Tax and financial information, that includes, among other, the following Value Added Tax ("VAT") monthly amounts: Creditable VAT Withheld VAT Shifted VAT Offset VAT Favorable...

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