New Mexican Tax Reform: Cross Border Tax Ramifications
Planning and Compliance Strategies for Consolidated Group Recapture Items and Rate Increases
Recording of a 110-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, February 4, 2010
Recorded event now available
This CLE webinar will update U.S. corporate tax professionals on the meaningful aspects of the latest Mexican tax reform legislation. The panel will provide the tools to ensure accurate compliance and minimize tax liability through effective planning.
Description
The federal tax reform bill approved by the Mexican Congress in November has huge implications for U.S. companies with tax obligations in Mexico. Most significantly, new rules require recapture of consolidated group items such as intra-group dividends and separate company losses after five years.
That complex policy could force U.S. multinationals to incur significant and unexpected tax liabilities starting in 2010. They also face a corporate tax rate increase, repeal of the Mexican R&D credit, higher marginal individual income tax rates, and higher taxes on telecom and cash deposits.
Corporate tax specialists for U.S. companies must stay current on how the latest tax reform in Mexico, and upcoming regulations, affect the cost of doing business there through corporations and partnerships, branch offices and maquiladora plants.
Listen as our panel of experienced tax counsel and CPAs analyzes and explains all of the most recent, relevant developments in corporate taxes for doing business in Mexico.
Outline
- Terms of 2009 Mexican tax reform legislation
- Corporate income tax rate increase in 2010-2012, followed by rollback
- Increase and rollback in highest marginal individual income tax rates
- Repeal of R&D tax credit as of 2010
- Increase in tax rate on cash deposits
- Expansion of excise tax base to cover certain telecom charges
- Recapture of certain corporate consolidated group items after five-year period
- Ongoing tax issues for multi-national corporations
- IETU and eligibility for U.S. foreign tax credit
- Issues for maquiladoras and U.S. manufacturers
- Transfer pricing issues in Mexico
- Tax planning issues to consider as a result of latest tax reform
Benefits
The panel will discuss possible alternatives in response to key aspects of the Mexican tax reform including:
- Recapture of consolidated group items: What adjustments will be necessary in your tax planning?
- Increased corporate tax rate: How much will your company's total tax obligation increase until the rate hike is scaled back?
- Repeal of the research credit: What other incentives remain for your company's qualifying research?
- Rate or base increases in marginal individual, cash deposit and telecom taxes: Will these changes affect your company?
Upon completing this course, an attendee will know details of the recent Mexican federal tax reforms as they affect tax compliance for U.S. companies with Mexican operations or cross-border business. Tax professionals will learn methods for using this specific knowledge to make practical changes to corporate tax policies and procedures that will ensure accurate tax compliance for Mexican business activities.
Faculty
Diana Davis,
Of Counsel
Greenberg Traurig, New York
She works with international clients on U.S. corporate tax matters, international acquisitions and reorganizations, structures of inbound and outbound transactions, tax advantaged treaty-based structures, international transportation, expatriation and withholding issues. She is also knowledgeable in the tax structures of Mexico and other Latin American countries.
Manuel Rajunov-Tawil,
Partner
Thompson & Knight, Dallas
He focuses on international tax matters related to business expansions and M&A. He represents foreign investors doing business in Mexico and Latin American multi-national companies.
Agustin Mercado,
Partner, International Tax Services, Mexican Desk
PricewaterhouseCoopers, New York
He has more than 20 years of experience in consulting with and tax planning for companies in Mexico and abroad. He now is involved with U.S., European and Latin American clients in evaluating tax consequences of Mexican business investments.
Mario Alberto Gutierrez,
Manager, International Tax Services, Mexican Desk
PricewaterhouseCoopers, New York
He joined the firm in 2005 and since has participated in diverse projects for U.S. and European clients, including evaluation of investment opportunities in Mexico.
Ordering
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Customer Reviews
Timely coverage of a complicated subject.
William Ahlstrom
Kerber Eck & Braeckel
Very interesting, informed us on the most recent updates.
Kristin Thompson
Global Tax Management
Real life examples that we could relate to. Keep up the great work.
Brett Terrebonne
Entergy
It was an excellent program!!
Marni Odermann
Supervalue
Offered different view points and real life, practical examples.
Angela Chretin
Northrop Grumman
Federal Income Tax Advisory Board
David Bowen
Principal
Grant Thornton
Joseph Calianno
Partner, National Tax Practice
Grant Thornton
Of Counsel
Morrison & Foerster
George Manousos
Partner
PricewaterhouseCoopers
Federal Tax Partner
Nixon Peabody
Tax Controversy Partner
Crowell & Moring
Of Counsel
Skadden Arps
Tom Windram
Managing Director & National Leader, Federal Tax Credits & Incentives
RSM McGladrey
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