Mexico – Income, VAT and tax procedure amendments | KPMG | GLOBAL.
VAT provisions
- Value added tax (VAT) refund process for investment projects of fixed assets – This new rule provides an alternative refund process for taxpayers claiming a favorable VAT balance due to acquisitions of new fixed assets. This alternative process aims to expedite the refund process when “extraordinary investments” are made. Accordingly, provided that the taxpayer complies with several requirements included in the rule, the tax authorities are to process the VAT refund claim within a period of no more than 20 business days.
