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New Regulations to the Income Tax Law Enter Into Effect Today

On October 8, 2015, new Regulations to the Income Tax Law were published in the Official Gazette of the Federation. Such regulations became effective as of today, October 9, 2015.

The Regulations were mainly issued to update their content to the provisions of the Income Tax Law that became effective on January 1, 2014 (prior Regulations were issued on October 17, 2003, and were based on the Income Tax Law of 2002, which was repealed on December 31, 2013).

Most of the changes in the Regulations consist of updates to references to the provisions of the new Income Tax Law, deletion of articles that regulated provisions of the former Income Tax Law that were repealed, the inclusion of rules formerly included in the Miscellaneous Fiscal Resolution within the text of the Regulations and new articles regulating specific issues related to: deductions (i.e., deductibility of lease payment of residential homes by enterprises), tax-free reorganizations (i.e., possibility of obtaining authorization for a corporate reorganization involving a non-Mexican entity), annual inflation adjustment (rules for calculating the adjustment in the assignment of lease rights), and certain reporting obligations (rules related to the obligation to disclose consideration and donation received in cash, local or foreign currency or gold or silver pieces), among others.


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