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It would be nice to future enhance the Mexico tax localization to include Mexican VAT receivable tax factor at point of tax payment calculation on a monthly period basis for purpose to ONLY tax credit the proportion of applicable receivable VAT tax credit at time of tax payments. (e.g. 1.00=100% receivable VAT tax credit, .95=95% receivable VAT tax credit, .90=90% receivable VAT tax credit), based on source of taxable income activity and grand total income activities. The prorated VAT receivable tax factor is calculated by dividing Grand Total Taxed activities ONLY/Grand total of income activities, and it's applied on a monthly tax payment calculation basis according to the month to month income tax activities performed. For more information, Articulo 1 LIVA, Articulo 5 LIVA Fraction V inciso C,D, SAT Anexo 7 Resolucion Miscelánea Fiscal 2018 November 30, 2018 ADDED 45/IVA/N, Articulo 32 LISR Fraction XV,http://www.diputados.gob.mx/LeyesBiblio/pdf/77_091219.pdf

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For example: tax activity $ 1,200 Grand total tax activity $ 1,500.00= 1200/1500=.80=80% VAT receivable applicable eligible prorated tax to be credited will be ONLY 80%. (e.g. Not supported payable VAT tax. -$1,400 +Supported VAT Tax: (207 * 80%)=$165.60= - $1,234.40 VAT payable balance.

(e.g. supported VAT tax $1,500 / 1.16 tax tax at 16%= 1,293 - 1,500= 207)

Category: Globalization - Regulatory features

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Articulo 5-B LIVA

Category: Globalization - Regulatory features