DIEMSE, No legal grounds for it
01/03/10 22:56 Filed in: TAXES
In the coming days, some miscellaneous tax provisions will be issued regarding the governing and filing of the mentioned return.
On 25 January 2010, the Informative return for Manufacturing, Maquiladora and Export Services Companies (DIEMSE) was unveiled through the webpage of the Tax Administration Service (SAT) on which, to the date there is no legal basis to regulate this obligation for these companies, therefore, the information related to the presentation, term, period, among other data, is still unknown for taxpayers.
For the aforementioned, it is clear that even the information has been part of the working papers on the annual tax calculations of said companies during the last years; the filing will not be required until there is a tax regulation of sufficient hierarchy that will support the submission of such statement.
The above statement is intended to apply to all companies that are found in the following cases:
a) Enterprises engaged in assembly operations, in all its forms, under the Decree of the Maquiladora and Manufacturing Industry Export Services and who have chosen to apply the Safe Harbor.
b) Companies that allocate goods from the strategic inspection area in accordance with Article 135-A.
c) Companies that opted for applying the tax benefits published in the Official Gazette on 30 October 2003 (Decree IMMEX).
d) Companies that allocate strategic goods to the fiscal area in accordance with Article 135-A of the Customs Law and have elected to apply the benefits to the customs procedure published in the gazette on 30 November 2006.
e) Companies that chose the Income tax credit for maquiladoras, related to the income tax that would be saved if the immediate deduction procedure is applied.
In previous conversations we held with the tax authorities, we were informed that this informative return is to facilitate the compliance with the requirement to present a writing to report stating that the "Safe Harbor" was chosen, according to Section II of Article 216-bis of the Income Tax Law. We were also told that in the coming days, some miscellaneous tax provisions will be issued regarding the governing and filing of the mentioned return.
However, after analyzing the format, it is noticeable that it will require information that goes beyond the statement election of the Safe Harbor alternative requesting critical information which involves additional obligations for the maquiladoras and companies that are in the cases mentioned above, thus, its publication would have to be done through a higher hierarchy regulation than miscellaneous tax provisions.
We recommend being aware of the publication of this regulation in the Official Gazette in order to know the details and determine the legal status of this return.
In the Spanish version enclosed, we are describing the detailed information required in the four sections of DIEMSE.
In case you have any additional comments or doubts concerning the content of this tax bulleting please do not hesitate to contact us.
Contacts:
Mauricio Monroy Tax and Managing Partner
Tel. 664 972 9072
mauricio.monroy@monroycp.com
Guillermo Gomez Tax Partner Tel. 664 972 9072
guillermo.gomez@monroycp.com
For the aforementioned, it is clear that even the information has been part of the working papers on the annual tax calculations of said companies during the last years; the filing will not be required until there is a tax regulation of sufficient hierarchy that will support the submission of such statement.
The above statement is intended to apply to all companies that are found in the following cases:
a) Enterprises engaged in assembly operations, in all its forms, under the Decree of the Maquiladora and Manufacturing Industry Export Services and who have chosen to apply the Safe Harbor.
b) Companies that allocate goods from the strategic inspection area in accordance with Article 135-A.
c) Companies that opted for applying the tax benefits published in the Official Gazette on 30 October 2003 (Decree IMMEX).
d) Companies that allocate strategic goods to the fiscal area in accordance with Article 135-A of the Customs Law and have elected to apply the benefits to the customs procedure published in the gazette on 30 November 2006.
e) Companies that chose the Income tax credit for maquiladoras, related to the income tax that would be saved if the immediate deduction procedure is applied.
In previous conversations we held with the tax authorities, we were informed that this informative return is to facilitate the compliance with the requirement to present a writing to report stating that the "Safe Harbor" was chosen, according to Section II of Article 216-bis of the Income Tax Law. We were also told that in the coming days, some miscellaneous tax provisions will be issued regarding the governing and filing of the mentioned return.
However, after analyzing the format, it is noticeable that it will require information that goes beyond the statement election of the Safe Harbor alternative requesting critical information which involves additional obligations for the maquiladoras and companies that are in the cases mentioned above, thus, its publication would have to be done through a higher hierarchy regulation than miscellaneous tax provisions.
We recommend being aware of the publication of this regulation in the Official Gazette in order to know the details and determine the legal status of this return.
In the Spanish version enclosed, we are describing the detailed information required in the four sections of DIEMSE.
In case you have any additional comments or doubts concerning the content of this tax bulleting please do not hesitate to contact us.
Contacts:
Mauricio Monroy Tax and Managing Partner
Tel. 664 972 9072
mauricio.monroy@monroycp.com
Guillermo Gomez Tax Partner Tel. 664 972 9072
guillermo.gomez@monroycp.com
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