According to the Supreme Court of Justice of the Nation, the rules  that regulate the obligation to identify and obtain information of the Beneficial Owners are constitutional.

Several legal entities filed an indirect constitutional appeal, in which they challenged the unconstitutionality of the legal provisions that regulate the obligation for identify and obtain information of the beneficial owners.

 On January 1, 2022, a new obligation in tax matters related to the figure of the  beneficial owner is in force, with the purpose of identifying the person who, directly or through one or more other persons or through any other legal act, obtains or obtains the benefit derived from its participation in a legal entity, trust or any other legal entity, as well as any other legal act, or who ultimately exercises the rights of use, enjoyment or use of a good or service, or on whose behalf a transaction is carried out.

 With this new obligation, several taxpayers filed a legal appeal alleging, among other things, violations of the fundamental rights of  legal certainty and legal motivation. 

On September 22nd, 2023, the Second Chamber of the Supreme Court of Justice of the Nation (SCJN) decided,  two different  jurisprudence, the normative system that regulates the obligation to identify, obtain, keep and, when is required, make available to the Tax Authority (SAT) the information related to its  beneficial owner, does not violate the constitutional principles of legal certainty and  legal motivation.

The precedents above   confirm the position and grant the legislative sense of origin that   rules have, making it clear that there is no such violation of the fundamental rights claimed, having said this, it is important to verify the correct compliance of this obligation according to the provisions of the various regulatory legal dispositions, considering that the fines for non-compliance, among others:

* Failure to keep or provide the information upon request by the SAT (fine from       $1,500,000.00 to $2,000,000.00).

* Failure to keep updated the information related to the number of  beneficial owners (fine from $800,000.00 to $1,000,000.00).

* Giving  incomplete, inaccurate or false information to the Tax Authority (fine from $500,000.00 to            $800,000.00) for each Beneficial Owner that has relation with the legal person, trust orentity in question.

In view of the recent decisions of the Supreme Court, it is essential that the obligation to obtain and keep as a part of the accounting updated reliable information of the  beneficial owners in order to comply with the obligation established in article  32-B Ter of the Federal Tax Code.  We can help you with the support for the compliance of this obligation.

If you have any questions , J.A. DEL RÍO offers its professional tax experts to advise you, so we are at your disposal at the following e-mail address: contacto@jadelrio.com