The improvements to the Financial Information of this 2021 were made as of December 8, 2020 and the decree was published in the Official Gazette of the Federation by which some were amended and added to the Income Tax Law (LISR) , of the Law of Value Added Tax (LIVA) and of the Fiscal Code of the Federation (CFF) which entered into force on January 1 of this year. Here are the changes scheduled in the LISR, LIVA and CFF for this 2021.
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Changes in the Income Tax Law (LISR)
- The donees who receive income that are not donations in a percentage greater than 50%, will lose the authorization.
- The revocation of the authorization to receive deductible donations is revoked.
- There is already an income limit to be considered as rendering of a subordinate personal service and salaries
Changes to the Value Added Tax Law (LIVA)
- Medical services exempt from VAT.
- Intermediation in the sale of used movable property as not subject to being considered as digital services is rsalarie
Changes in the Fiscal Code of the Federation (CFF)
- Public limited companies that obtain a concession from the SAT can derive “Recognized markets”
- Business reason: The legend “The tax effects generated in terms of this article in no case will generate consequences in criminal matters” is modified.
- The hours of the “Tax Mailbox” will only be in the Central Zone of Mexico.
- To reverse the cancellation of the SAT certificate, an increase of 3 to 10 days was made for the authorities to make known the resolution of the taxpayer’s request
You may also be interested in our entry: Importance of filing tax returns on time
Consult the complete and detailed decree in the Official Gazette of the Federation and remember that it is very important to keep all the documents and papers of your company in order, as well as their finances. To avoid mistakes, let the accounting and finance experts advise you.
At QuAdrans Law and Finance we have the Accounting Service. Our staff is trained to prepare and issue financial statements. You can feel safe with us and together we can make the best decisions for your company. Contact us.
