MEXICO: COVID-19 VAT IMPLICATIONS

May 6, 2020 | COVID-19

MEXICO – Update 20th May

Mexican government expedites VAT refunds to ease cash flow concerns

Speculation has circulated as to whether the Mexican government will grant tax incentives or other options to ease the impact of COVID-19. As of now, little to nothing has been offered that provides benefits to the Mexican subsidiaries of foreign companies.

One positive development has been a message from the executive branch of the Mexican government related to value-added tax (VAT) refunds. The Mexican tax authorities have been instructed to process VAT refunds as quickly and efficiently as possible to assist with cash flows.

 

Source Credit – plantemoran

 

MEXICO – Update 6th May

Speedy Value Added Tax credit repayments

The Mexican Tax Administration is to offer speedy Value Added Tax credit repayments to assist businesses during the COVID-19 crisis.

The current deadline is a refund within forty days, will be reduced.

 

Source Credit – Richard Asquith (Avalara)

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