BACKROUND
Recently, the Mexican Tax Authorities (SAT) published 40 effective income tax rates for large taxpayers (comanies that sells $1,125,000,000 pesos or more), according to the business sector to which they belong, based on the analyzed information of the economic activities corresponding to the fiscal years of 2016, 2017, 2018 and 2019.
The first 40 economic activities are part of the following 5 economic sectors: Mining;
- Manufacturing industries;
- Wholesale trade;
- Retail trade; Y
- Financial services, as well as insurance.
This publication has its origin in the framework of the new powers of the tax authority, which were granted to them by the Tax Reform of 2021, in order to facilitate and encourage voluntary compliance by taxpayers.
Therefore, taxpayers who belong to the economic sector of the published activities, will be able to compare the effective income tax rate against their own effective income tax rate, with respect to each fiscal year, to measure their tax risks and, where appropriate, correct their tax situation by filing a supplementary statement, in order to minimize the possibility of initiating in-depth reviews aimed at verifying correct compliance with your tax obligations.
For these purposes, the tax authority determines how the effective income tax rate is the one that is calculated with the information shown in the last annual income tax return for the fiscal year in question, and which is obtained by dividing the amount of income tax caused in the fiscal year, among the cumulative income for said year.
Likewise, the tax authority defines as tax risk, the contingency of non-compliance with the tax provisions that are applicable to a taxpayer or a group of taxpayers and that affects the correct payment of contributions, specifically in terms of income tax, by virtue of not finding within the parameters established by the tax authority, which could lead to a possible audit by the tax authority.
In this context, it is very important to carry out preventive diagnoses in tax matters, as well as to evaluate the reason for the alleged differences between the tax authority and the taxpayer; and therefore, obtain the necessary advice to correct your tax situation, or adequately support compliance with tax obligations in the event of an eventual audit or review, in addition to presenting the corresponding means of defense if necessary.
