Tax Newsflash: New Informative Tax Return “DISIF”

In accordance with Article 32-H of the Federal Tax Code, next June 30 is the deadline for certain taxpayers to file with the tax authorities (SAT) the new informative return of fiscal position “DISIF”, which electronic format is similar to that of SIPRED structure, which makes us think that this new obligation replaces in part to the auditing of financial statements for tax purposes, and finds support in the last paragraph of Article 32-A of the CFF (Federal Tax Code), exempting the presentation of DISIF to those who choose to audit their financial statements for tax purposes.

In accordance with Article 32-H of the Federal Tax Code, next June 30 is the deadline for certain taxpayers to file with the tax authorities (SAT) the new informative return of fiscal position “DISIF”, which electronic format is similar to that of SIPRED structure, which makes us think that this new obligation replaces in part to the auditing of financial statements for tax purposes, and finds support in the last paragraph of Article 32-A of the CFF (Federal Tax Code), exempting the presentation of DISIF to those who choose to audit their financial statements for tax purposes.

Thus, the format DISIF must be downloaded from the SAT’ website along with its annexes or sections for filling. The obligated parties are basically companies:

• Those on general scheme of the Income Tax Law that have obtained operating revenues equal or exceed $ 644’599,005.00 MxP in 2014 ($42’130,654 US dollar approximately), and who in that year placed shares among the investing public in stock exchange and are not in any of the following assumptions.
• Those on the optional regime for groups of companies (formerly called as “Consolidation Regime”).
• State entities of the federal public service
• Permanent establishments belonging to foreigners.
• Any company resident in Mexico, with respect to transactions conducted with abroad residents. As of today there are many doubt, about who are the obliged; not precisely by sections I to IV that are clear, but by fraction V that refers to those making operations with foreigners.

Notwithstanding the insistence before some SAT representatives, there are no limitations or exceptions on the extent that would imply that fraction V for many taxpayers who have interacted with residents abroad during 2014 as a result of his business actions (for example, for those who have made a trip abroad and incurred in expenses of any concept or that from Mexico have acquired foreign goods or services, without being fiscally relevant) and consequently, they are now forced to the DISIF presentation.

Annexes or sections that comprise the DISIF are as follows:

• Taxpayer general data and representative identification
• Financial information and disclosures
• Analytical information
• Third party information (shareholders, related and foreign parties). As for transactions with foreigners, (important point mentioned above) the data requested are:
• Name of related party (if any),
• Tax identification number,
• Country of residence
• Amount of the transaction, and
• Type of Transaction,
• Amounts withheld due to the transaction.

Do not hesitate in contacting us for the purpose of clarifying any doubts that may arise regarding this new requirement or its filling.