The Miscellaneous Tax Rules for Fiscal Year 2016 ("Tax Rules") were published in the Federal Official Gazette, on December 23, 2015. The Tax Rules shall be in full force and effect as of January 1, 2016. This alert, is limited to highlight the new rules relevant for companies that operate under an authorization issued pursuant to the Decree for the Promotion of the Manufacturing, Maquiladora and Export Services Industries ("IMMEX Decree") and which are subject to Articles 181, 182 and 183 of the Income Tax Law ("ITL").
Below, you may find a summary of the most relevant topics:
Extension of the deadline to file the DIEMSE of Fiscal Year 2014
Companies that operate under the terms of an IMMEX program are obliged to file each year the Informative Return of Maquila Operations and Exportation of Services ("DIEMSE").
The obligation of filing the DIEMSE for fiscal year 2014 had been deferred until December 31, 2015. However, the Tax Rules, in its Article Transitory Twenty First, include a new extension of such term, in order to file the DIEMSE of 2014. The new deadline is between February 15 and March 15, 2016.
The due date for filing the DIEMSE of fiscal year 2015 remains the last day of June 2016, in accordance with second paragraph of Article 182 of the Income Tax Law.
The Filing of the DIEMSE is required in order for companies to continue to be entitled to apply the benefits granted for maquiladora companies, including the following:
Relief granted to IMMEX companies from the obligation of filing, on a yearly basis, a letter informing the Tax Authority about the taxable profit assessed by following the methodology resulting from the application of Sections I and II of Article 182 of the ITL. Compliance with this requirement is necessary to continue fulfilling the legal conditions provided in order to consider that the foreign related party does not have a permanent establishment in Mexico as a consequence of the maquila operation carried out through an IMMEX company. Continue to have the benefit consistent in an additional deduction equivalent to47% of the fringe benefits paid to the employees (Under the terms of Article First, Section II, of the Decree that grants tax benefits to the IMMEX industry, published in the Federal Official Gazette on December 26, 2013, maquiladoras shall inform the Tax Authority regarding the determination of the applied benefit). 2. Greater legal certainty to companies that operate through Shelters