SPID – The tool to make and receive USD wire transfers


Publicado en Lunes, 21 Agosto 2017

SPID – The tool to make and receive USD wire transfers

After a long wait, the Bank of Mexico has decided to allow wire transfers between USD dollars accounts. This is made through the System of Interbank Payments in Dollars, abbreviated SPID for its initials in Spanish.

 

According to the information that Banxico itself gives to the general public, the SPID is born because of an increase in the demand for wire transfers in dollars. This is of great importance within a globalized world, where the companies are always looking to make their processes more time and cost efficient.

Leer más: SPID – The tool to make and receive USD wire transfers

New requisites in the Electronic Accounting


Publicado en Lunes, 21 Agosto 2017

New requisites added to the Electronic Accounting

Following up with the past entry’s topic: “Electronic Accounting as a method for fiscal control”, which you can findhere”, we will further talk about the changes that this Electronic Accounting: 1.3 Version implies.

The SAT published on its website since the 6th of January of 2017 the Annex 24. This annex explains the new requisites that will have to be added to the files that are sent in order to comply with the Electronic Accounting. It is worth mentioning that these changes will start on June 1st of 2017, which is why the accounting records of this month will have to include these new requirements.

Leer más: New requisites in the Electronic Accounting

Technological Innovation of Electronic Invoices (CFDI)


Publicado en Martes, 18 Julio 2017

Technological Innovation of Electronic Invoices (CFDI)

 

The electronic invoices (CFDIs) were born in Mexico in 2010, such has been its success for tax purposes that the fiscal authorities have been optimizing said tool since it is one of its main tools at the moment of make its main functions that is the tax collection.

 

Leer más: Technological Innovation of Electronic Invoices (CFDI)

Electronic Accounting as a method for fiscal control


Publicado en Martes, 06 Junio 2017

Electronic Accounting as a method for fiscal control

 

Worldwide, the fiscal authority is always looking for new strategies that allow it a more agile and efficient fiscal control, and Mexico is not an exception. During the last year, as tax payers, we have been involved in a fiscal environment of constant changes. One of the most innovative tools developed by the Servicio de Administración Tributaria (SAT), is the Electronic Accounting.

Leer más: Electronic Accounting as a method for fiscal control

Are you a foreigner with lucrative activities in Mexico or are you a member of a Mexican Entity (ME)?


Publicado en Martes, 08 Noviembre 2016

Are you a foreigner with lucrative activities in Mexico or are you a member of a Mexican Entity (ME)?

If you answered YES to any of the questions above, I invite you to read the following article which explains the obligations that being in any of the two situations aforementioned entail before the National Registry of Foreign Investment (RNIE for its Spanish acronym).

First of all we must understand:

What is the RNIE?

 

Leer más: Are you a foreigner with lucrative activities in Mexico or are you a member of a Mexican Entity...