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Mexican Congress Approves Tax Reforms for 2010
by John R. Cohn
Thompson & Knight LLP - Dallas Office
Sam L. Merrill
Thompson & Knight LLP - Dallas Office
Manuel Rajunov-Tawil
Thompson & Knight LLP - Mexico, D.F. Office
Joe A. Rudberg
Thompson & Knight LLP - Monterrey, Nuevo Leon Office
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November 20, 2009
Previously published on November 18, 2009
The Mexican Congress has approved the tax reform bill for 2010. The bill makes several changes to the income tax, VAT, and excise taxes as well as modifications to the consolidated tax regime that require certain tax benefits from consolidation to be recaptured after five years. The final bill has been submitted to the President for final approval. Once approved, most provisions will take effect beginning January 1, 2010.
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