Learn all about Mexico’s local and international tax & e-invoicing system. Tequila shots not included.
On Wednesday, September 11 at 15:00 London BST, we hosted a webinar that offered listeners an in-depth look at Mexico’s local and international tax system. Obviously, tequila shots were not included.
In this webinar, you will learn all about Mexico’s domestic and international tax system, what’s trending in the sector and some of the main advantages of setting up a business in the country.
A big chunk of the event was dedicated to Mexico’s revolutionary e-invoicing system.
With its use being mandatory since 2014 and now fully adopted for 100% of the country’s economic transactions, the Digital Internet Tax Receipt (CFDI) is a structured file in XML format for electronically declaring different fiscal documents (invoices, credit notes, employee payroll, etc.,) before Mexico’s tax authority. Since its implementation, the CFDI has grown in success with the volume of digital invoices issued between 2011 and 2017 close to quadrupling from 1.7 billion to 6.5 billion.
Given its efficiency, plenty of countries throughout the globe have studied Mexico’s CFDI in an effort to develop and improve their own e-invoicing systems.
What Was Discussed
Here are some of the questions that were discussed during our event:
- What’s currently trending when it comes to taxation in Mexico?
- What are some of the main tax advantages available to foreign companies setting up in Mexico?
- What’s Mexico’s position vis-à-vis BEPS and some of the other OECD and EU-led tax initiatives?
- How far reaching is Mexico’s revolutionary e-invoicing system?
- How has electronic accounting and e-invoicing helped the Mexican economy?
- Are there any challenges posed by the country’s current e-invoicing system? Any improvements coming online to ameliorate these?
- How has the US’s 2017 tax reform affect the Mexican economy?
- And plenty more!
Submit Your Follow-Up Questions
If you have any follow-up questions for our panelist, please make sure to submit them below.
Since 2018, Jesús Ramírez serves as an independent tax consultant in Mexico. He previously served as tax manager for a Swiss Company controlling tax effects of transactions between European and Latin America’s countries. Jesus has also worked as tax consultant at Grupo Televisa, a leading media company in the Spanish-speaking world, an important cable operator in Mexico and an operator of a leading direct-to-home satellite pay television system in Mexico, where he was involved in tax structure such as: mergers, demergers, migrations of companies, etc.