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Mexico Tax Authority Issues Deadline for Shareholders’ Reports

The Mexican tax authority has announced a deadline of March 31st for shareholders to submit their reports. The report must include personal details of the shareholders or partners, including information on where they pay taxes.

Annual and Quarterly Reports Required for Foreign-Invested Companies

Mexican companies with foreign investments are required to submit annual and quarterly reports to the National Registry of Foreign Investments (RNIE). The reports must be submitted if the company meets any of the following criteria:

  • Changes in corporate name, tax domicile, or business activities
  • Modifications in the company’s capital stock and/or shareholding structure, under certain circumstances
  • Movements in at least one of their accounts, exceeding an amount of MXN 20,000,000
  • New contributions, reserves, or withdrawals that do not affect the capital stock of the company
  • Retained profits of the last fiscal year and disposal of retained profits
  • Receivables or payable loans to subsidiaries residing abroad, head office, foreign investors residing abroad with ownership interest as shareholders or partners, and residents abroad who are part of the same corporate group

Annual Economic Report Submission

Companies that reach a certain size (based on active total, liabilities, and outflows) must submit an annual economic report to the RNIE. The submission deadline is either April or May each year.

Quarterly Economic Reports

Companies that meet particular financial benchmarks must submit quarterly reports to the RNIE within 10 business days of the end of each period.

Update Mexican Entrepreneurial Information System (SIEM)

All corporations are obliged to register with the government-run SIEM and keep their information up-to-date, with fines levied upon those who do not comply.

Additional Requirements

Beyond these key requirements, companies must also meet additional demands, including:

  • Renewal of employer registration with immigration authorities
  • Review and modification of internal labor policies
  • Preparing labor contract addendums
  • Data protection and intellectual property compliance
  • Renewing leases
  • Providing information to banks

Common Questions

Based on our experience, common questions and doubts from clients on entity legal compliance in Mexico include:

  • What are the common statutory appointments for a company in Mexico?
  • Is a registered office address needed for a legal entity in Mexico?
  • When must an Ordinary Shareholders Meeting be held in Mexico?
  • When must I notify RNIE about any company changes in Mexico?
  • What is the Annual Income Tax Operation and when is it held in Mexico?

Seek Professional Guidance

The information provided here should not be construed as formal guidance or advice. Please consult a professional for your specific situation.