Central America

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.

According to the Mexican Income Tax Law (MITL), the expenses made with foreign related parties, on a pro-rata basis, are not deductible. However, a recent decision from the country’s Supreme Court means those expenses may now be deductible in certain circumstances.