Central America

By a majority vote, the Second Chamber of Mexico's Supreme Court of Justice ruled on the constitutional trials filed against the Income Tax Law that only allow employers to deduct certain payments.

EY Mexico analyse income tax considerations related to the foreign exchange effect of the Mexican Peso versus the US Dollar, looking at non-monetary assets, deferred taxes and the impact in the effective tax rate under US-GAAP, IFRS or Mexican Financial Reporting Standards.

Gustavo Gómez, of EY Mexico, provides an overview of electronic accounting records processes in Mexico, including how to make submissions, and an update on related litigation surrounding the protection of taxpayer information.