On May 2, MEX Tax called on taxpayers to submit financial statements.
MEX Tax issued Communication 20-2025 to inform companies and individuals with business activity they must submit financial statements for fiscal year 2024 by May 15.
Financials must include an opinion, and report of a certified public accountant (CPA).
CPA opinion on the nature, scope, and outcome of the taxpayer's financial situation.
Highlights
Tax obligation applies to companies that accumulated income equal to or greater than 1,855,919,380 pesos for income tax purposes or have shares listed on stock exchange.
Companies and individuals with business activity have the option to file a return.
If cumulative income exceeds 157,785,270 pesos; have assets valued at more than 124,650,380 pesos; at least 300 of employees provided services in each month.
In addition, obliged taxpayers who fail to submit their report, or do so outside the legal deadline, may be subject to penalties ranging from 17,330 pesos to 173,230 pesos.
They may be restricted from using the Digital Seal Certificate required to issue tax receipts, and failure to address this issue may result in permanent cancellation.
Deadline
Must file financial statement opinion for fiscal year 2024, no later than May 15, 2025.
