Law initiative - Law to promote citizen confidence
Law initiative - Law to promote citizen confidence

On November 13, the purpose of the initiative for the “Law to Promote Citizen Confidence” was presented, whose purpose is to establish the grounds for executing sector actions and programs in order to grant administrative benefits and facilities related to the economic activity carried out by individuals and companies.

The application of this Law will be through the Department of Economy, which details the following as its main functions:

I. Promote legality and formal trade.

II. Promote and enter into agreements to provide administrative facilities to individuals and companies performing economic activities.

III. Generate an environment of trust between individuals and companies, based on voluntary and permanent compliance of their regulatory and tax obligations, and the granting of administrative facilities by the corresponding legal office.

IV. Operate and manage the Single Trust Register.

For the foregoing, the Single Trust Register will be integrated by information from taxpayers who voluntarily register and will be understood as an act of good faith whereby taxpayers state they are in compliance with regulatory and tax obligations, pursuant to the economic activity they perform.

Upon registering in the Register, the person shall state under oath he/she undertakes to continue in compliance with obligations derived from the normativity regulating them, as well as tax obligations, in order to be object of the benefits granted by virtue of this Law.

Said Register may be consulted publicly or through the website for the Department of Economy.

Taxpayers submitting untrue information will lose their registry and will no longer be entitled to the benefits and facilities granted for up to one year, in addition to being subject to verification until their registration is re-validated.

However, to this date, the benefits and facilities granted to taxpayers registering on this registry have not been published.

If this Law proposal is approved, it will produce effect on the day following its publication on the Federal Official Gazette, in addition to its regulations 90 days after.

We will be pleased to answer any concern or comment in this regard.