The Mexico SAT has doubled down on their eAccounting requirements with a focus on corporations. While 2014 data is no longer required, the core requirements are now more detailed. So while the go-live date has transitioned from January 25 to March 3rd, this doesn’t mean you should delay your implementation.
Key changes include:
- Reports are required as of January 2015 for all multinationals that produced more than 4 Million Pesos of revenue in 2013.
- Reports are due no later than the 3rd day after the second month following the period – which means that January is now due no later than March 3rd, 2015
- Chart of Accounts – has become more complicated
- Trial balances- Journal Summaries – are due monthly, but only for 2015 data. You no longer need to provide 2014 data.
- Journal entries – these are mandatory to be created and must be submitted upon the government’s request or if you request a tax refund or compensation back. The UUID is still the key to all of these requirements
- They have added additional complexities as well with expansion of the requirements, so don’t delay – projects need to start in December to meet the deadlines.