Taxpayers that have been involved in certain maquila transactions were to withhold value added tax (VAT) when the goods were imported using a “V5” customs declaration. If VAT was not withheld, under then-applicable rules, the taxpayers could offset the amount of the VAT liability by using other tax overpayments. However, given changes to the rules and following the results of tax audits, taxpayers may want to consider revising their tax situations.
Read more: KPMG
Latest Posts in "Mexico"
- Mexico’s Push to Reduce Cash Dependency for Financial Inclusion and Economic Growth
- Mexico’s 2026 Tax Package Introduces Stricter Electronic Invoice Rules and Criminal Penalties
- Mexico Broadens Registry of Companies Under Digital VAT Regime
- Mexico Updates List of Registered Non-Resident Digital Service Providers for September 2025
- Understanding VAT Compliance and CFDI Requirements in Mexico’s Tax System
