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ARTICLES

LEGAL RESOURSES

Exchange rate:

$ 18.67

    • ARTICLE 3: TRANSITORY OF DECEMBER 29, 1997

     

    Second.- For the purposes of the previous article, the following will apply:

  • The amendments and additions to articles 20, seventh paragraph; 31, second paragraph; 81, sections I and II and 82, sections I, subsections d) and e), II, subsections e) and f), shall enter into force on March 1st, 1998, the amounts contained in these last articles must be updated on July 1st, 1998 in accordance with article 70 of the Federal Fiscal Code (Código Fiscal de la Federación). (CFF: Art. 20) (CFF: Art. 31) (CFF: Art. 81) (CFF: Art. 82) (CFF: Art. 70)

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  • The amounts contained in articles 80, sections II and III; 82, sections X, XVI and XX; 84, section VI; 86, section IV; 86-B, section III and 88 of the Federal Fiscal Code (Código Fiscal de la Federación), are considered updated as of January 1998, and subsequent updates must be made in July of that year. (CFF: Art. 80) (CFF: Art. 82) (CFF: Art. 84) (CFF: Art. 86) (CFF: Art. 86B) (CFF: Art. 88)

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  • The amount contained in article 102 last paragraph of the Federal Fiscal Code (Código Fiscal de la Federación) (CFF: Art. 102), it is understood as updated by the year 1998.

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  • Section VII of the Second Transitory Article of the Law Establishing and Modifying Various Tax Laws, published in the Official Journal of the Federation (Diario Oficial de la Federación) on December 30, 1996, is voided.

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  • Diplomatic and consular missions, as well as diplomatic and consular career agents, duly accredited to the Mexican government, will enjoy tax benefits and exemptions in accordance with international treaties to which Mexico is a part of or to the extent that there is reciprocity. The honorary general consuls and the honorary consuls and vice consuls are not included in the assumption stated in this section. The Secretary of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) will issue general rules that regulate the amounts, terms, and conditions of the application of said benefits and exemptions, as well as the tax refunds that may be applicable.

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  • The legal entities that have ceased to be residents in national territory for tax purposes on the occasion of the amendment to section II of article 9 of the Federal Fiscal Code (Código Fiscal de la Federación) (CFF: Art. 9), effective as of January 1st, 1997, and that they had losses pending decrease, investments pending deduction or income pending accumulation, will continue applying said losses and deductions and accumulating said income during the years 1997 and 1998, for which they must present the information that the Secretary of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) establish through general rules.

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    The legal entities referred to in this section must calculate the income tax that corresponds to them during the 1997 and 1998 fiscal years, in accordance with the provisions of the Law on Income Tax (Ley del Impuesto sobre la Renta) for the income obtained during said fiscal years.

     

    Legal entities that pay taxes in accordance with the provisions of this section will be considered residents in national territory for tax purposes.

     

    If at the end of the 1998 fiscal year, said legal entities still had losses pending decrease, investments pending deduction or income pending accumulation, they must accumulate the latter as of the year 1999, being able to reduce losses or deduct investments, provided that they constitute permanent establishment or fixed base in the terms of the Law on Income Tax (Ley del Impuesto sobre la Renta) as of said date.

     

    The provisions of this section will not be applicable to those legal entities that constituted permanent establishment or fixed base from January 1st, 1997, who will pay taxes in accordance with the provisions of the Law on Income Tax (Ley del Impuesto sobre la Renta).

     

  • Taxpayers referred to in article 31, second paragraph of the Federal Fiscal Code (Código Fiscal de la Federación) (CFF: Art. 31), when they submit their statement for the 1997 fiscal year after February 1998, they must do so electronically, in accordance with that provision.

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  • For the purposes of the provisions of the penultimate paragraph of article 29-A of the Federal Fiscal Code (Código Fiscal de la Federación) (CFF: Art. 29A), the printed receipts in the establishments authorized by the Secretary of Finance and Public Credit (Secretaría de Hacienda y Crédito Público) available to the taxpayers on January 1st, 1998, may be used until June 30 of that year. After this period has elapsed without having been used, they must be canceled in accordance with the Regulations of the said ordinance.

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  • For the purposes of the provisions of article 46-A of the Federal Fiscal Code (Código Fiscal de la Federación) (CFF: Art. 46A), the period for the conclusion of the visits or revisions referred to in said article before January 1st, 1998, will be computed in accordance with the tax provisions in force on the date they were initiated.

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  • The provisions of articles 30, third paragraph and 67, sixth paragraph of the Federal Fiscal Code (Código Fiscal de la Federación) (CFF: Art. 30) (CFF: Art. 67), regarding the term for the preservation of documentation and accounting records, as well as for the extinction of the faculties of the tax authorities, effective as of January 1st, 1998, they will not be applicable to the tax year that began before said date.

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    However, in the case of taxpayers for whom the tax authorities have not started exercising their faculties of verification before January 1st, 1998, they may be in accordance with articles 30, third paragraph and 67, sixth paragraph, of the Federal Fiscal Code (Código Fiscal de la Federación), effective as of January 1st, 1998, regarding the term for the conservation of documentation and accounting records, as well as for the extinction of the faculties of the tax authorities.

     

  • From January 1st, 1998, the refunds are not made, as well as the contributions and exploitations omitted, will only result in the payment of interest or the collection of surcharges for a maximum period of five years, unless prior to said date interest or surcharges have been generated for a longer period, in which case the interest or surcharges generated until December 31, 1997 will be paid or collected for a longer period.

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  • For the purposes of the provisions of article 29 of the Federal Fiscal Code (Código Fiscal de la Federación) (CFF: Art. 29), the taxpayers from January 1st, 1998, will have tax verification machines or acquire them from that date, they can continue to use them and issue the copy of the audit records, with the character of simplified receipts, provided they comply with the requirements established in the article 37 of the Regulations of the aforementioned system.