Official Form 76 “Information Regarding Relevant Transactions”
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Official Form 76 “Information Regarding Relevant Transactions”
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Due to the Federal Tax Code reform, as of January 1st, 2014, article 31-A is added and establishes the obligation for legal entities and individuals to file, on a monthly basis, information regarding relevant transactions, the aim being obtaining the appropriate information regarding transactions that have been detected with an aggressive tax planning.

            The information return, published through the official form 76 “Information Regarding Relevant Transactions”, currently includes a total of 36 relevant transactions, including, amongst others, the following concepts:

v  Certain transactions carried out with related or non-related Mexican or foreign tax resident parties.

 

v  Transfer pricing transactions (e.g. market value adjustments and determined or paid royalties).

 

v  Capital participations and tax residency (e.g. direct or indirect change of partners or shareholders, transfer of shares regardless of the amount, change or obtaining of tax residency in another country). 

 

v  Change in the business model due to which some of the following functions are carried out or no longer carried out:  

-          Maquila or manufacturing of goods owned by a foreign tax resident.

-          Distribution or commercialization of good acquired from a foreign tax resident.

-          Auxiliary administrative services in favour of a foreign tax resident.

 

v  Financing transactions for which interest becomes payable after a year.

 

v  Interest payments derived from financing transactions for which interest becomes payable after a year.

 

v  Entry of accrued interests in the books, resulting from financing transactions for which interest becomes payable after a year.

 

v  Restructure due to the transfer of shares or change in business model or activity.

 

v  Other relevant transactions such as the transfer of intangible goods, financial assets and goods due to mergers or demergers, payment of dividends with resources that come from loans received, amongst others.

The informative has a quarterly periodicity for 2014, however due to the haste in which the regulations and forms were published; the Tax Authorities have extended the date to comply with this obligation to April 30th, 2015 at the latest for information related to 2014.

In addition, to comply with this obligation for 2015, the informative will have to be filed on a monthly basis. Please note that there is a confusion regarding the deadlines for the filings in the calendar that the Tax Authorities published in regulation 2.8.1.16 of the 2015 Miscellaneous Tax Resolution (MTR 2015), in future publications that the Authorities will make public through their website they will indicate the correct dates for the filings, in the meantime, the calendar is as follows:

See PDF

It is important to clarify that the official form 76, establishes that if the company does not carry out any of the above mentioned transactions during the month, it will not be obliged to file the corresponding return in zero.

If the informative is not filed on time and in due manner, the company may be subject to a fine that can vary between $1,100 and $27,440 pesos according to Art. 81, Section I and 82, Section I of the Federal Tax Code.

Please feel free to contact us should you have any doubts or questions. 

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