© 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. WMTA Breakfast meeting November 16, 2011 Flat Tax Benefit Maquiladora Industry Héctor Silva.

Presentación del tema: "© 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. WMTA Breakfast meeting November 16, 2011 Flat Tax Benefit Maquiladora Industry Héctor Silva."— Transcripción de la presentación:

1 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. WMTA Breakfast meeting November 16, 2011 Flat Tax Benefit Maquiladora Industry Héctor Silva

2 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. 2Footer Flat Tax Benefit Maquiladora Industry The Treasury Department published on October 12, 2011 in the Official Gazette the Decree to amend the tax benefits granted at the Decree published on November 5, 2007. The amendments basically comprise: Adding section fifth-bis to the Decree to establish additional rules to Maquiladoras for applying the Flat Tax (IETU) Benefit established at section fifth of the Decree. An extension to the validity of the Decree until 2013, thus Maquiladoras are legally able to apply the above mentioned IETU benefit, provided that they comply with certain requirements.

3 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. 3Footer Flat Tax Benefit Maquiladora Industry The IETU Benefit means to the Maquiladoras that: IETU will not be higher than 17.5% of the taxable income for Income Tax purposes. Amount Income Tax profit 24,397 Tax rate 17.5% Annual IETU Tax 4,269 Computed annual IETU tax 5,000 IETU credit 731

4 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. 4Footer Flat Tax Benefit Maquiladora Industry For 2012 and 2013, Maquiladoras will have to comply with several requirements that if not met, otherwise the right to apply the IETU benefit will be lost. These requirements as per the Decree are: Filing the monthly and annual tax returns on the terms and conditions provided by tax regulations, whether there is an amount due or not. Not owing any tax liability, final or not. Submitting in time the auditors report for Tax purposes or the optional information established at the Decree published at DOF on June 30, 210. Filing the DIOT monthly informative return, on the terms and conditions provided by tax regulations.

5 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. 5Footer Flat Tax Benefit Maquiladora Industry Filing the DIEMSE informative return for Maquiladoras. Having an active taxpayers registry (RFC), so to speak, not being a dormant company or being a company in liquidation. That the information rendered to the tax authorities through the RFC is not fake or inexistent, and that notices of tax domicile changes, new branches or establishments are dully filed. Complying with IMMEX regulations, specifically with section 24 articles I, III, IV, VI, VII, and IX of the IMMEX Decree published on November 1, 2006 and amended on December 24, 2010. Having supporting documentation of the customs operations.

6 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. 6Footer Flat Tax Benefit Maquiladora Industry Complying with the requests of information or documentation by tax authorities, regarding the maquiladora operations in relation to its tax or customs obligations. That the name or tax domicile of the supplier, producer, addressee, or buyer, resident abroad, specified at the pedimento or invoice is not fake or inexistent. Failure to meet with any of the first five formalities of section fifth-bis will result in a suspension of the Importers Registry. Failure to meet with any of the formalities stated on section fifth-bis or to submit the information referred to in the thirteenth paragraph of section five the Decree, will result in the loss of the IETU benefit; thus tax authorities will require due payment plus the corresponding surcharges.

7 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. 7Footer Flat Tax Benefit Maquiladora Industry The Decree amendments will be in force as follows: Article fifth of the Decree is in force from the year 2008 through 2013. Article fifth-bis will be in force in years 2012 and 2013, except for article V regarding DIEMSE, wherein tax authorities will indicate its validity.

8 © 2011 Galaz, Yamazaki, Ruiz Urquiza, S.C. Deloitte se refiere a Deloitte Touche Tohmatsu Limited, sociedad privada de responsabilidad limitada en el Reino Unido, y a su red de firmas miembro, cada una de ellas como una entidad legal única e independiente. Conozca en www.deloitte.com/mx/conozcanos la descripción detallada de la estructura legal de Deloitte Touche Tohmatsu Limited y sus firmas miembro. Deloitte presta servicios profesionales de auditoría, impuestos, consultoría y asesoría financiera, a clientes públicos y privados de diversas industrias. Con una red global de firmas miembro en más de 150 países, Deloitte brinda capacidades de clase mundial y servicio de alta calidad a sus clientes, aportando la experiencia necesaria para hacer frente a los retos más complejos de los negocios. Los aproximadamente 182,000 profesionales de la firma están comprometidos con la visión de ser el modelo de excelencia. Esta publicación sólo contiene información general y ni Deloitte Touche Tohmatsu Limited, ni sus firmas miembro, ni ninguna de sus respectivas afiliadas (en conjunto la Red Deloitte), presta asesoría o servicios por medio de esta publicación. Antes de tomar cualquier decisión o medida que pueda afectar sus finanzas o negocio, debe consultar a un asesor profesional calificado. Ninguna entidad de la Red Deloitte, será responsable de la pérdida que pueda sufrir cualquier persona que consulte esta publicación. Héctor Silva Tax Partner Deloitte Tijuana hsilva@deloittemx.com 011 52 664 6227840