Mexican taxpayers get extension for filing of 2012 annual tax report

This tax report should be uploaded jointly by the taxpayer and the external auditor to the Mexican Tax Services Administration website.

The taxpayers that are obliged to file the mandatory annual tax report are those that:

• report revenue of about $3 million during the previous fiscal year.
• own assets with a value of about $6 million.
• employ at least 300 people in each of the months of the previous fiscal year.

For 2012 tax report purposes, the official deadline was July 1 2013. However, the website experienced some technical difficulties in the ldays running up to this date; as a consequence, the Mexican tax authorities extended the deadline until July 3, so tax reports submitted on July 2 and 3 will be considered as filed on time.

It is important to note that the tax report is a particularly important obligation for those taxpayers that consolidate their results for tax purposes since, though holding companies have to file an additional tax report on a different date, subsidiaries are also obliged to fulfill this requirement on the aforementioned terms.

Gustavo Gómez (Gustavo.gomez@mx.ey.com) and Iovana Arciniega (iovana.arciniega@mx.ey.com)

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