New annual informative about Fiscal Situation (DISIF) Applicable to all legal entities who perform transactions with residents abroad
Background On December 9th 2013, was published in the official gazette (OG) the current Federal Tax Code (FTC) which becomes applicable from January 1st 2014; this FTC sets for the first time the obligation of the taxpayers to submit to the tax authorities by June 30th 2015, a new annual informative called "Informative about Fiscal Situation" (DISIF). Taxpayers obligated to file the DISIF 1. Taxpayers who have declared in their normal filings tax revenues for income tax purposes equal or greater than $ 644,599,005 pesos, as well as those tax payers who have shares placed with investors and/or in the stock market 2. Those who belong to the tax “Optional Regime for Groups of Companies” (in the past the tax “Consolidation Regime”) 3. Independent institutions of the government (parastatals institutions) 4. The legal entities residents abroad who have permanent establishment in the country 5. Any legal entity resident in Mexico, in respect to the operations conducted with residents abroad Exempt taxpayers of filing DISIF Those taxpayers who do not fall in the abovementioned cases, or that being so, have decided to file the Statutory Tax Report (SIPRED) by an independent public accountant. Information that must be presented in the DISIF Information should be integrated in a set of 19 annexes and 3 questionnaires which includes the following: a) The 4 basic Financial Statements b) Integration of contributions, offsets & returns c) Derivative financial operations d) Permanent investments in subsidiaries, associates and affiliates residents abroad e) Information about your transactions with related parties f) Informative data such as Profit sharing, Income tax, capital contribution account (CUCA), net tax profit account (CUFIN), tax losses, foreign trade operations, VAT g) Operations carried out with residents abroad Forms and means of presenting the DISIF You will have to download the software in the web page of the government (SAT) which can be found in the following link: http://www.sat.gob.mx/informacion_fiscal/software/Paginas/DISIF_EJERCICIO-2014.aspx Date of filing The DISIF should be sent no later than June 30th of the following year, i.e., the information of the operations carried out within year 2014 shall be submitted by June 30th 2015 at the latest. Implications of not filing the DISIF in time and form There is a penalty for not submitting the annual informative about Fiscal Situation (DISIF) or presenting it incomplete for an amount of $10,980 up to $109,790 pesos. We remain at your disposal for any questions or clarifications.