VAT credit on importation of goods only if the importation documents were in the taxpayer’s name

Mexico’s President submitted to Congress the economic proposal for 2022 on 8 September 2021. The proposal would require taxpayers to prove they have a valid business purpose for restructurings, mergers and spin-offs. The proposal also would modify the requirements nonresidents must satisfy for electing to be taxed on a net basis, including the requirements for appointing a legal representative. In addition, the Proposal would: (1) expand the information auditors must include in tax audit reports; (2) subject certain taxpayers to additional reporting requirements; and (3) clarify that a VAT credit would only apply for the importation of goods if the importation documents were in the taxpayer’s name.

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