Mexico's IVA Tax: VAT Fundamentals for U.S. Companies
Obtaining Deductions and Refunds, Complying With VAT Withholding, and Meeting Other Challenges
Recording of a 110-minute CLE teleconference with Q&A
Conducted on Thursday, July 26, 2012
Recorded event now available
This teleconference will position a U.S. corporate tax professional to more effectively comply with IVA in Mexico when their companies either purchase goods or services there, sell to Mexican residents, or operate a permanent establishment.
Description
Tax professionals at U.S. companies with operations in Mexico, or that buy goods and services there, must acquire a fundamental understanding of how the country's value-added tax, the IVA, works. The 16% tax (11% in designated U.S. border zones) is imposed on virtually every physical or online transaction.
Apart from IVA exemptions (e.g., exported goods and services) and unexpected taxable transactions (e.g., unsecured debt interest, bank card fees), U.S. tax specialists must grasp how to obtain deductions and refunds. The Hacienda revenue agency insists on complete, authorized "factura" documents.
Tax staff must stay current on the regime for withholding IVA on sales to Mexican residents, use cash basis rather than accrual accounting, and identify opportunities for reduced IVA in border zones. A briefing on IVA basics and latest rule changes will position tax pros to effectively oversee IVA compliance.
Listen as our panel of experienced transactional tax consultants reviews the legal and practical workings of Mexico's IVA.
Outline
- Fundamentals of IVA application
- Rates in interior vs. border zones
- Standard exemptions
- Unique exemptions and taxable transactions
- Processes for obtaining deductions and refunds
- Practical realities of IVA withholding and cash accounting regimes
Benefits
The panel will cover these and other key topics:
- Mexican IVA rates and tax base.
- Processes for obtaining deductions and refunds.
- IVA withholding on sales by foreign residents.
- Cash basis accounting for IVA.
- Reduced IVA opportunities in border zones.
Upon completing this seminar, you will have a thorough understanding of how the Mexican IVA tax is administered and its key differences with VATs elsewhere and as compared with U.S. sales taxes.
Faculty
Luis Carbajo-Martinez, Principal
Baker & McKenzie, Juarez, Mexico
He has extensive experience in international tax planning, cross-border transaction, VAT and other corporate tax engagements. He has been lead counsel on numerous audits and litigation involving Mexican taxes, and is a frequent contributor to professional tax publications.
Juan Carlos Valles Zavala, Atty
Baker & McKenzie, Juarez, Mexico
He works on VAT, flat tax, international tax planning, permanent establishment and cross-border transaction engagements, among other client work. He also helps structure maquiladora operations for multi-national companies operating in Mexico.
Scott Sneckenberger, Partner
Plante Moran, Auburn Hills, Mich.
He is attached to the firm's Global Services Group and leads the firm's Mexican Consulting Practice. He spends most of his client work on strategic and tax planning in North and South America, Southeast Asia and Western Europe.
Gabriel Andrade, Partner, International Tax Services
KPMG, Monterrey, Mexico
He has been with the firm for 15 years and is partner-in-charge of its Monterrey business unit. He is assigned to multi-national client engagements in Mexico and abroad and is global lead partner working with the firm's largest Mexican client.
Ordering
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Customer Reviews
It was an excellent program!!
Marni Odermann
Supervalue
I liked that the PowerPoint slides would automatically change as the speaker's presentation progressed.
Zeeshan Elahi
Ryan
The program had excellent presenters that were extremely knowledgeable.
Lisa R. Volland
Legacy Professionals
I especially liked the examples illustrating the topics concepts.
Melinda Tompkins
Holly
Coverage was practical and straightforward. Well done.
Stuart J. Frentz
Bradley Arant Boult Cummings
Sales and Use Tax Advisory Board
Silvia Aguirre
President
Tax Technology Services
Rick Bregitzer
Manager of Domestic Taxes
Parker–Hannifin
Stephanie Anne Lipinski-Galland
State and Local Tax Attorney
Joseph Geiger, Esq., CPA
Tax Consultant
Vertex
Diane Matulich
Senior Manager, Local Taxes
Advanced Micro Devices
Rich Prem
VP of Indirect Taxes and Tax Reporting
Amazon.com
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