Newsletter February - March

NOTICE

o Facility t t n e m y a P ent Complem 27/02/18

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THE LATIN AMERICAN ASSOCIATION OF AUTHORIZED CERTIFICATION SERVICE PROVIDERS IS FOUNDED

INVOICES IN FOREIGN CURRENCY Page 4

2017

RECOGNITIONS VALUE Page 20

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Table of Contents EDITION 22

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06

08

12

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18

Use of the CFDI and its related rules

Did you know that the travel expenses given to the worker must be reported in the payroll CFDI?

Printed Representation of a Payment Receipt

FISCAL TECHNOLOGY

DID YOU KNOW?

FISCAL TECHNOLOGY

Invoices in foreign currency

Did you know? ... The Personnel Subcontracting Application is now ready

Everything you need to know about the payment receipt complement

FISCAL CULTURE

DID YOU KNOW?

FISCAL TECHNOLOGY

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NOTICE 27 DE FEBRERO DE 2018

NEWS

The Latin American Association of Authorized Certification Service Providers is founded

Facility to Payment Complement In the project of the 1st RM to the RMF for 2018, published last Friday, February 16, the Third operative article grants ease to the Payment Complement:

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Third. The Seventh Transitory article of the RMF for 2018 published in the DOF on December 22, 2017 is amended to read as follows:

NEWS

Recognitions Value

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SAT (Mexican Tax Authority)

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SAT statistics at closing of 2017

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“Seventh. For the purposes of the regulation 2.7.1.35, the taxpayers may choose to issue CFDI by using the version 3.3 of Annex 20 without incorporating the complement for receipt of payments until August 31, 2018 “ The obligation to issue the payment CFDI (or electronic payment receipt REP), will apply for payments received as of September 1, 2018, which according to the operating rules of said recipient, may be issued no later than day 10 of the month after the payment was made. For example, in the event that a payment is received on September 5, the recipient of the payment will have until October 10 to issue the corresponding REP.

SE

Dissolution and Liquidation of Simplified Trading Companies

The payments received until August 31, may apply the facility to check them through a CFDI income or through a REP. For the payments received in August, the REP may be issued no later than September 10.

When making use of the facility, instead of issuing an Electronic Payment Receipt each time you receive a partial or deferred payment, you can issue a CFDI income type (as was done before the REP will exist) and relate it to the CFDI that it is paid according to the following keys: 08 Invoice generated by partial payments.

09 Invoice generated by deferred payments.

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AVOID DIFFERENCES IN TAX PAYMENT IF

YOUR INVOICES ARE IN FOREIGN CURRENCY BENITO BARRAGĂ N RANGEL CONTPAQi

TAX TECHNOLOGY

The Tax Administration Service (SAT) indicated that the New Invoice, or CFDI 3.3, would have a Payment Receipt Complement; a requirement that exists since 2003 but that few taxpayers used or complied with as a provision.

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Hence, we can say, in part, that this 2018 becomes an obligation. To be exact, from April 1 we must issue and/or receive this CFDI Complement in order to confirm that the payment of our electronic invoices has been made, after

having made the transaction.

But just as important, it is to know 2 impacts of this when we use it:

As we see in column D, it is not decided to consider the socalled “exchange rate gain” as VAT base, simply the VAT is left the same and ready.

Impact 1: the causation or obligation to pay VAT or IEPS, depending on the source invoice that is being paid.

However, in Column E, we will consider that VAT is generated on the so-called “exchange rate gain”, and for this we read the VAT Act in Article 12:

Impact 2: if our invoices have been issued in dollars, for example, the obligation to pay this VAT would have to be made according to the most recent exchange rate, regardless of whether the payment of the digital receipt is made in Mexican pesos or dollars.

“To calculate the tax in the case of disposals, the agreed price or consideration will be considered as value, as well as the amounts that are also charged or collected to the purchaser for other taxes, duties, normal or default interest, conventional penalties or any other concept “.

Our attention has to focus on the second impact. Why do I say it? It is very important to know the most recent exchange rate to comply with the tax payment. If you take a nonupdated reference, it may have consequences for a difference in tax payments.

As we can see the difference of what was originally agreed ($19,000 plus VAT) and what will be paid, whether it is column D or column “E”, may or may not generate VAT; depending on the criteria. However, if we see what Article 12 of the VAT Act says, this exchange gain can be considered as “any other concept” and then the VAT should be calculated and proceed as column E.

Maybe this article does not clear up all the doubts. At least, if we will be more informed with regard to the data that the SAT has in this type of case and when we use the Payments Receipt Complement or Electronic Payment Receipt (REP), as it is also known. For example, in a company, a CFDI with income of $1,000 is issued, taking as an exchange rate $19 for each dollar.

This CFDI was made with the payment method in partial or deferred payments (PPD, by the acronyms that are used, according to the authority) and a form of payment for defining (key 99).

The tax consequence will be that this company has a taxable income, for ISR of $19,000 plus a VAT caused and payable of $3,040. Of course, that VAT will not be paid as long as the receipt is not paid partial or totally. Recall that rule 2.7.1.35, second paragraph, of the Miscellaneous Fiscal Resolution tells us that if it were a partial payment, the taxes will be caused proportionally.

As a second part of this example, suppose that the receipt is paid in full at a later date, but with an exchange rate of $22 per dollar. There is no reason to be scared; it is just an example with which we can illustrate the total taxes to be paid in pesos through the following table:

I have had contact with an endless number of colleagues and the opinion is divided on whether this “extra payment”, due to the exchange differences, causes VAT or not. But regardless of your criteria, I recommend that you go ahead and request the tax authority a confirmation of criteria for the purposes of transit for a fiscal tranquility for you and your company.

Why is this topic so important? The authority has all the necessary elements to know if there was or not gain, or exchange loss. When I say this I refer to the following attributes within the CFDI-Revenue (Type of exchange at the moment of the issuance of the receipt) and to the attribute TypeChangeRD * at the time of the payment. *Conditional attribute to express the exchange rate according to the currency registered in the related document. It is required when the currency of the related document is different from the currency of payment. The number of units of the currency indicated in the related document must be recorded, which equals one unit of the currency of the payment. That is, the currency of the related document is USD (US dollar), currency of payment, pesos, a unit of currency of payment (that is, a peso) is equivalent in our example to 1/22 = 0.04545 dollars.

The SAT has the exchange rate of the Income CFDI and the relation with each peso 1/19, and now has the exchange rate at the time of the payment and with that, dear readers, the SAT can perfectly determine the exchange rate gain (and if the corresponding VAT is applicable), so we must be careful and take all the precautions of the case to avoid having a problem.

A

B

C

D

E

Concept

Dollars

Original operation Pesos Exchange Rate $ 19

In pesos without VAT in foreign exchange rate Exchange rate: 22

In pesos with VAT in foreign exchange rate Exchange Rate $22

Subtotal

1, 000

19, 000

22, 480

22, 000

IVA

160

3, 040

3, 040

3, 520

Total

1, 160

22, 040

25, 520

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DID YOU KNOW W

DID YOU KNOW THAT?

THE APPLIC PERSONNEL SUBCONT IS NO

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WHAT?...

CATION OF TRACTING OW READY

MARYANGELICA MORA HERNÁNDEZ QUADRUM

Last Thursday, January 11, 2018, the Mexican Tax Authority (SAT) announced through the “Tax Mailbox” the computer application that will allow taxpayers who have outlays for labor subcontracting services in terms of the Federal Labor Act, comply with the obligations set forth in article 27, section V, last paragraph of the Income Tax Act (LISR) and article 5, fraction II and article 32, section VIII of the Act on Value Added Tax (LIVA), so that the payments made for this concept were deductible and the VAT paid is creditable.

This application is available in the Tax Mailbox in the section called “Applications” “Labor Subcontracting” and has three sections that are:

1. Authorization of the contractor for the CFDI consultation and declarations.

2. Consultation by the contractor of the CFDI and declarations.

3. Notice for compliance with labor subcontracting obligations 2017.

In section number 1, the contractors (who provide the service) will register the contractors (the clients) to whom they will grant the authorization so that they can consult among others the following information: workers’ registration with those who provide the service, CFDI consultation of payroll and declarations of withholdings of the income tax and VAT, as well as of the whole of the employer worker quotas for purposes of the IMSS. In section number 2, the contractor (client) can verify the information of the contractor (who provides the service) in relation to the CFDI for payroll that has stamped and the statements indicated in the previous paragraph.

And in section number 3, the contractor will release the information related to the contractor’s RFC, VAT transferred, total amount of the service, start date and end of service.

With the use of this application, the tax obligations of articles 27, section V, last paragraph of the Income Tax Act, as well as section 5, section II and 32, section VIII of the Act on Value Added Tax, corresponding to the fiscal year 2017, will be fulfilled according to the Article Nineteenth Transitory of the LIF 2018, as well as to the rule 3.3.1.44 of the Miscellaneous Fiscal Resolution 2018.

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EVERYTHING YOU NEED TO KNOW ABOUT

PAYMENT

RECEIPT COMPLEMENT

SANDRA ESCALANTE HIMMELSPACH INTERFACTURA

The new Payment Receipt Complement also called Electronic Payment Receipt (REP); it is a CFDI of type “P” that contains the specific information on the received compensation, that is to say; it is an invoice to which specific additional information about received payments is added.

It will enter into compulsory operation as of April 1 of this year.

In order to issue this new type of CFDI, there are rules that taxpayers must take into account, among them are the following:

1) VERSIONS: The Electronic Payment Receipt (REP) can

only be incorporated into an Income CFDI issued in version 3.3 of Annex 20, on the other hand; the complement will carry the version 1.0.

2) METHOD AND FORM OF PAYMENT: The Income

CFDI version 3.3 to which the Electronic Payment Receipt (REP) will be incorporated, must have established that the method of Payment of that receipt will be “PPD” (Payment in installments or deferred)

TAX TECHNOLOGY

The payment in installments means that the operation will be settled with more than one financial operation and the deferred payment means that the consideration will be made in a single exhibition and in the future. Likewise, the form of payment that will be established in the aforementioned Income CFD, will be that corresponding to the key “99” (to be defined) since it is not paid at that moment; cause we do not know the means by which we will receive the income.

3) ISSUANCE: The deadline to issue the Electronic Payment

Receipt is the tenth calendar day of the following month in which the payment was received; that is, for example: a consideration was received on the last day of June 2018, the “P” CFDI must be issued no later than July 10, 2018; the same deadline will be applicable if the consideration was received on June 1 of the same year. If this deadline is not met, the taxpayer may incur in infractions and generate fines.

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You cannot issue an Electronic Payment Receipt with a future payment date since the date of receipt of the consideration must be equal to or prior to the date of issuance of the Payment Receipt Complement, that is to say; in the “Date” field the date and time of issue of the CFDI is recorded and in the “Payment Date” field the date and time in which the payment of the consideration is being received is stated. It should be mentioned that if the consideration was received by means of a check, the date on which the financial instrument is received must be recorded; regardless of whether the deposit is credited later.

4) FISCAL VALIDITY: The Electronic Payment Receipt is

required in order to be able to credit the transferred taxes or, if applicable, the deduction.

5) FORMS AND EMISSION SCENARIOS: 5.1 One Payment Received Settle Several CFDI Type “I”: Issuing a single “P” CFDI in which they will be included, within the identifier field of the document; the references of the tax sheets (UUID) corresponding to each one of the invoices that are settled.

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TAX TECHNOLOGY

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5.2 Receiving several payments during the same period and from the same receiver: When this assumption is presented, a single Electronic Payment Receipt must be issued, generating several “Payment” sections to relate each consideration received, as well as the UUID’s relation to the invoices that are linked to said considerations.

5.3 Payment reception with electronic funds transfer: In this case, it is the issuer’s decision to fill in the information in the “TypeCadPayment” field. If you choose to include this information, then you must also register the information in the “CertPayment”, “CadPayment” and “SealPayment” fields.

6) CANCELLATIONS:

6.1 When the RFC of the receiver that was established in the electronic payment receipt is incorrect, this “P” CFDI may be canceled by replacing it by another with the correct data.

6.2 When there is already at least one Electronic Payment Receipt that proves that the consideration has been totally or partially paid, the issued CFDI of Revenues cannot be canceled and the corrections must be carried out through the Expenses CFDI. 6.3 When the Electronic Payment Receipt has been issued with errors, it

may be canceled provided another one with the correct data replaces it. If the error was because it should not have been issued since the consideration had been paid in full, upon cancellation another with an amount of one peso must replace it.

7) TAX RELEASE:

In the Electronic Payment Receipt, taxes are not broken down; they are either transferred or withheld because the amount of the payment will be applied proportionally to the concepts specified in the Income CFDI.

8) ALLOCATION CRITERIA:

To determine which income CFDI will the received payment be applied to; the taxpayers will apply the allocation criteria in the following order: a) If there is an express legal provision of public order that establishes it, that provision shall be respected. b) If there is no express legal provision, the express agreement established by the parties involved will be applied. c) If there is no express agreement between the parties, the payer may indicate to the recipient of the payment those who will apply said payment and the amount corresponding to each receipt, counting with the 5 immediate

calendar days following the one in which the payment was made. d) In the event that the payer does not indicate the Income CFDI to which the receiver of the payment will apply to, the receiver of the payment will apply it to the CFDI of the oldest pending Income.

9) FIELDS THAT COMPOSES THE CFDI TO WHICH THE ELECTRONIC RECEIPT OF PAYMENTS IS INCORPORATED:

Receipt: in this field the information related to the receipt is established.

It should be noted that the Payment Form, the Payment Method and the Payment Conditions are not filled in this section. The subtotal and total will have a value of zero and no discounts will be recorded. This will be a “P” type receipt.

10) BENEFITS: The electronic receipt of payments provides, among others, two great benefits: a) The cancellation of invoices issued and already paid is avoided, so you avoid having documents that are not valid fiscally. b) Establishes controls on accounts receivable from taxpayers. c) Avoids bad commercial and fiscal practices.

THE DEADLINE FOR ISSUING THE ELECTRONIC PAYMENT RECEIPT IS THE TENTH NATURAL DAY OF THE FOLLOWING MONTH, IN WHICH THE PAYMENT WAS RECEIVED.

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FISCAL CULTURE:

USE OF THE CFDI AND ITS RELATED RULES

TAX CULTURE

SANDRA ESCALANTE HIMMELSPACH INTERFACTURA

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As is well known, the CFDI 3.3 entails changes among which

The key P01 “To define” will be used in cases in which there

are the new information that will be provided to the tax

is no information on the use that the receiver will give to

authority when an invoice is generated; such is the case of

the CFDI, as well as when the invoice is issued to a resident

the use of the CFDI and as its name indicates, it consists of

abroad with a generic RFC. It will also be used in the issuance

establishing the tax management that our clients will give to

of global invoices, in the payroll receipts and in the electronic

the receipt.

payment receipt.

In order to comply with this requirement, the SAT issued

It should be noted that if the issuer registers a key other than

the catalog of use of receipt; which integrates 21 grouped

the CFDI used by the receiver; there will be no need to cancel

concepts, according to their respective keys; in expenses,

or replace said receipt, nor will there be any effect for your

investments and deductions; as well as a concept “To define”.

deduction or credit.

Within the same catalog, it is specified that the 22 concepts

It is recommended that taxpayers approach their clients

apply to the Legal Person regime, not being so for the Legal

and maintain effective communication in order to establish

Entity Regime since the latter can only be related to the

assertively the use of CFDI and, incidentally, to take

concepts corresponding to Expenses and Incomes.

advantage of the new obligation and convert it into their own benefit by improving the business relationships.

Our clients, according to the indications that they give us, will define the key that will be used.

It should be noted that if the issuer registers a key other than the CFDI used by the receiver; there will be no need to cancel or replace said receipt, nor will there be any effect for your deduction or credit.

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DID YOU KNOW THAT?

TH GIV M

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DID YOU KNOW THAT HE TRAVEL EXPENSES VEN TO THE WORKER MUST BE REPORTED IN THE PAYROLL CFDI? BENITO BARRAGÁN RANGEL CONTPAQi

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As from the date in force of the payroll complement 1.2, the requirements that the per diem record in the payroll CFDI and its fiscal considerations must comply with are established. The filling guide of this complement tells us: When per diem payments are given to the worker, this data may be reported in any of the following ways: a) In the payroll CFDI of the period that includes the date on which the resource was delivered to the worker. b) In the payroll CFDI following that corresponding to the date on which the resource was delivered to the worker, as long as it is issued within 30 calendar days following the date of delivery of the resource to the worker and within the same fiscal year in which the resource was handed over to the worker. c) In an independent payroll CFDI, which covers only the delivery of the per diem, as long as it is issued within 30 calendar days following the date of delivery of the resource to the worker and within the same fiscal year in which it was delivered the recourse to the worker.

Use of grouping keys within the payroll CFDI for the delivery of per diem The per diem delivered and not verified in the same period as the CDFI payroll issued, must be registered in the “TypeOtherPayment” field and classify it with the key “003” (Expenses delivered to the worker) of the catalog c_ TypeOthersPayments.

DID YOU KNOW THAT?

Under this context, if I have a per diem paid to the worker and it was not checked in the same period, it must be recorded in the payroll receipt as “TypeOther Payment” (Perception).

However, we can not ignore the following, mentioning the filling guide in this regard: The travel expenses that are not verified by the worker or do not meet the tax requirements and to which the provisions of article 152 of the RISR do not apply, nor are they considered as non-deductible expenses by the employer, they must be included in the payroll CFDI in the field “ TypePerception” as taxable employee perceptions, using the key “050” (per diem), as the perceptions type catalog, the value must be registered in the field of taxed amount.

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Interpreting the previous paragraph we have that “the travel expenses must be reflected in the payroll CFDI”, as a taxable perception when the following 3 conditions are given in their entirety: 1) Travel expenses that are not checked by the worker or do not meet the tax requirements.

2) To those who do not apply the provisions of Article 152 of the RISR. 3) Neither considered as non-deductible expense by the employer.

Then, if a per diem paid to a worker is considered “non-deductible”, it should no longer be considered as taxable for the worker. The point is that it does not fall in the exempt income either.

In my opinion, I believe that this is logical, since otherwise it would represent a “double punishment” for this act, on the one hand, it is accumulated to the worker and on the other it is left as “not deductible” for the company.

However, this has its points of care, since, if it is customary to make electronic transfers to the worker, by replacement of travel expenses, and also are high sums in relation to the reported salary, this worker could have a fiscal discrepancy.

So dear accountant, let’s go with lead with this “facility” that the SAT gives us in this sense and we do not abuse these cases, I think that if it is something that happens infrequently this is defensible, but if we use it as a “fiscal strategy” we may have some headaches.

If it is customary to make electronic transfers to the worker, by replacement of travel expenses, and also are high sums in relation to the reported salary, this worker could have a fiscal discrepancy.

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PRINTED REPRESENTATION

OF A PAYMENT RECEIPT As is already known, one of the major recent changes in digital tax verification is the CFDI with Payment Receipt Complement, also known as Payment Receipt or Electronic Payment Receipt.

This document must be issued by the reception of invoice payments in partial payments or invoices in a single exhibition but in a deferred manner. Its existence aims to:

MARCELA CISNEROS LÓPEZ DIVERZA

• Avoid false duplicities of incomes in partial billing.

• Identify if an invoice has been paid or not.

The printed representation of a Receipt of Payment is governed by the same rules as that of an income CFDI, but additionally has the condition of including all the information of the tax complement related to this type of document.

• Avoid unnecessary cancellation of invoices.

The printed representation should consider: General data of the CFDI - RFC of the issuer, - Fiscal regime of the issuer, - Place and date of issue - Serial Number of the Issuer Seal Certificate - Receiver RFC - Use of the CFDI - A billed concept that will always have the same values in product code, unit of measure and description.

- Amount of unit value and total in zero - Taxes will not be included for this type of receipt - Currency expressed with the key “XXX”

TAX TECHNOLOGY

Details of payment - Payment method - Payment date - Amount paid - Payment Currency - Exchange Rate If the payment was made through a banking medium, such as check, transfer or credit or debit card, the following could be presented: - Operation number - Ordering Account - Beneficiary Account - RFC of Ordering Bank and Beneficiary If it was by electronic funds transfer via SPEI, you could also add information of the Electronic Payment

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Receipt generated by BANXICO, such as: - Payment Certificate - Payment Seal - Payment Chain Data of the CFDI paid - Serie and Folio of each invoice paid - UUID or fiscal folio of the invoice - Currency of the paid document - Type of Change of the document paid - Method of payment of the document paid - Number of partial payments - Previous balance - Amount paid - Unpaid Balance Tax Stamp Data - Fiscal Folio or UUID of the Receipt of Payment - Serial number of the SAT CSD - PAC RFC that certified the receipt - Date and time of the certification of the CFDI - Original chain of the digital certification complement of the SAT. - Digital Seal of the SAT Other information requirement - Two-dimensional barcode - The legend: “This document is a printed representation of a CFDI”

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NEWS

THE LATIN AMERICA OF AUTHORIZED CER PROVIDERS IS FOUN

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AN ASSOCIATION RTIFICATION ND • More than 15 companies founded the Latin American Association of Authorized Certification Providers, ALATIPAC, A.C. • CIAT, SAT and SE participate in the constitution of the ceremony.

• PAC model, international leader in electronic invoicing.

He mentioned that the trend in Latin America is to adopt cutting-edge schemes that facilitate the implementation of electronic invoices with the agility, controls and support that PAC companies have made possible in cases such as Mexico.

Through ALATIPAC, a business group of providers authorized by governments of the region of Latin America for the promotion of best practices in the provision of certified digital communication services, fiscal and commercial, that is carried

Mexico City, December 14, 2017- Last Thursday, December 14, 2017, more than 15 companies met to form ALATIPAC,

out between:

A.C. in the Bankers Club of Mexico City.

• Government to citizen and citizen to government.

At the ceremony to establish the Latin American Association

government.

of Authorized Certification Providers, ALATIPAC, A.C., the international organization CIAT, Inter-American Center of Tax Administrations, represented by Vinicius Pimentel de Freitas, International Responsible for Electronic Invoicing,

•Government to company and company to • Company to company.

Thanks to the experience of more than 10 years implementing and developing electronic invoices in Mexico and other

participated as a witness of honor.

countries in the region, ALATIPAC Members promote the

For its part, the Tax Administration Service, SAT, Adrián

sector for the benefit of local users with offers of:

Guarneros Tapia, General Administrator of Taxpayer Services,

PAC model, actively participating in the development of the

accompanied the act of incorporation.

• Technological solutions that comply with the

On behalf of the Ministry of Economy, Elsa Regina Ayala

such as electronic invoicing.

Gómez, General Director of Mercantile Regulation and Diana Muñoz Flor, Director of Coordination of the Public Registry of

regulatory standards of certified electronic documents, • Advice on regulatory compliance in electronic media.

• Value-added services to capitalize on business

Commerce, attended the ceremony.

sciences.

Vinicius Pimentel de Freitas, CIAT, highlighted the importance

guarantee the sustainability and security of the

of the creation of ALATIPAC, pointing out the value of

• Services aligned to international standards that exchange of information through the digital media.

having a private organization that meets the needs of the international collaboration for the tax modernization.

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2017

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RECOGNITIONS VALUE Thanks to the work of our Committees, which bring together technical and legal specialists in digital taxation, AMEXIPAC contributes to the promotion of certified digital communication in Mexico.

In order to distinguish the work of those members of Committees that stand out for their commitment and strategic contributions, we have instituted Recognition VALUE. The members elected by the Partners to receive the Recognition VALUE 2017 are:

Luis Antonio Vega Garza Technical Committee

Saúl González González Regulatory Committee

CONGRATULATIONS!

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SAT STATISTIC

AT CLOSING OF At the end of 2017, the non-oil tax revenues were located in two billion 854 thousand 799.3 million pesos, this is 4% higher than the budgeted in the Federal Income Law (LIF) equivalent to 115 thousand 432.5 million pesos.

Census The growth of the taxpayer registry continues to show great dynamism.

As of December 2017, this register is made up of 64.7 million taxpayers, which means an increase of 7.9 million taxpayers (13.9%) with respect to the same month of the previous year.

Invoices During 2017, 6,517 million invoices were issued, that is, 2017 invoices per second on average. The number of invoices received reached to 33,242 million.

Electronic invoice version 3.3.

As of July 2017, the new electronic invoice format came into effect: version 3.3., however, the facilities were granted to be compulsory until January 1, 2018, currently the only valid invoice version.

GOVERNMENT

Since it began the obligation to update the invoice, the 99% of the invoices that have been issued have been in the new version.

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CS

SAT

F 2017

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DISSOLUTION AND LIQUIDATION OF SIMPLIF COMMERCIAL COMPANIE

GOVERNMENT

SE

The importance of simplifying the pro open a company should also be transf to the process of closing it.

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FIED ES

Significant efforts have been made to improve the regulatory framework at the federal, state and municipal levels to simplify the process of starting a business or a company. The public policy actions include, within its main objectives, the reduction of costs and time to comply with the regulation, so that the process of opening a company is simple and does not generate high costs that may represent barriers.

However, the administrative simplification must include the complete life cycle of a company. The importance of simplifying the process to open a company should also be transferred to the process of closing it. The entrepreneurs not only take into account the process and the costs that involve the creation of a company, but also the possible risks that can end with that entity, so the closing process must also be analyzed.

According to the INEGI, the life expectancy of business in Mexico has the following behavior:

BY FEDERAL ENTITY

BY SECTOR

ocess to ferred

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Currently, a considerable number of commercial companies, due to the high costs to carry out their dissolution and liquidation, already exist legally even when in practice they no longer carry out operations. These costs (of time and economic nature) are presented by the requirements and obligations of fiscal type to carry out the cancellation on the Public Registry of Commerce, the Federal Register of Taxpayers, as well as the acts that must be recorded before a notary public (protocolization of shareholders’ meetings).

WHO CAN BE SUBJECT TO THE SIMPLIFIED PROCEDURE? 1. Exclusively companies with legal entities.

2. They are not in liquidation because they have an illicit object or have habitually executed illegal acts.

3. Having published in the PSM its current shareholding structure 4. They are not performing operations, or have issued electronic invoices during the last two years 5. They are aware of their tax, labor and social security obligations.

6. Does not have pecuniary obligations with third parties and is not in bankrupt, and its legal representatives are not subject to criminal proceedings.

7. It is not a member of the financial system.

CHARACTERISTICS OF THE PROCESS

BENEFITS • Creating a process of dissolution and liquidation differentiated where there are features that do not warrant a complicated process.

• Simplification of the corporate charges faced by some entrepreneurs who decide to close their business.

GOVERNMENT

• Reduction of time and cost so that entrepreneurs can complete the closure of their company safely and with legal certainty.

• Consolidation of procedures to close a company in a single computer system with easy access for the employer.

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EDITORIAL DIRECTION Nelly V. Maldonado I AMEXIPAC LAYOUT DESIGN HELLOID.NET GRAPHIC CONSTRUCTION Roberto Del Rio

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