Reportable Schemes - A Novel Challenge For Companies In Mexico

Carlos Naime, Silvana García and Marlene Guillén of Chevez Ruiz Zamarripa explain how Mexican tax advisers and taxpayers can adapt to reflect the mandatory disclosure of tax planning arrangements.

One of the main challenges facing tax administrations around the world is the lack of comprehensive and relevant information on aggressive tax planning strategies. Efficient access to this type of information allows tax authorities to promptly mitigate the risks of losing revenue, either through proper risk assessment, relevant tax inspections or by amending applicable legislation and/or regulations.

In force since January 2020, the tax reform included changes to the tax legislation that mostly follow the guidance set forth by Action 12 of the BEPS Action Plan of the OECD. In general terms, BEPS Action 12 outlines how tax administrations and policy makers could mitigate the risks of losing revenue due to aggressive tax planning by applying tools designed to increase the