MexicoAccounting and Audit
The tax year coincides with the calendar year, except when trading operations begin or when a company goes into liquidation or is merged during the course of a calendar year. Within three months after the end of its tax year, a company must file a corporate income tax return showing its taxable profits and tax liability, as well as base earnings for employee statutory profit-sharing purposes and the actual amount of the profit-sharing payments.
Generally, the corporate income tax due is determined by self-assessment. However, the tax authorities may make an assessment when a return is not filed, the taxpayer impedes the tax authorities, or the taxpayer fails to keep proper accounting records. The tax authorities may estimate the value of assets subject to tax. They also may charge companies with excess tax determined from their review of the tax returns or performance of direct audits or from the accountants' tax reports. In such a case, the tax authorities determine and notify
We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.
