GC Alert | New accounting obligation in order to obtain and maintain information on controlling beneficiaries

As of January 1 of this year, as part of the Economic Package for 2022 of the Federal Government, the new accounting obligation related to the figure of the controlling beneficiary came into force, applicable to all legal entities, fiduciaries, settlors or trustees. of the Trusts, as well as the contracting or component parties, in the case of any other legal entity.

The above, in addition to the obligation already regulated in article 24, section II, in relation to the provisions of article 3, section III, both of the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin.
In terms of the provisions of articles 32-B Ter, 32-B Quater and 32-B Quinquies of the Federal Tax Code, as well as rules 2.8.1.20, 2.8.1.21, 2.8.1.22 and 2.8.1.23 of the Miscellaneous Tax Resolution applicable for 2022, the new obligation for entities consists of obtaining and preserving, as part of their accounting, as well as providing the Tax Administration Service, when required, with reliable, complete and updated information and documentation. the controlling beneficiaries. This obligation also applies to Notaries Public, Public Brokers and any other person involved in the execution of contracts or legal acts that give rise to the constitution of companies, trusts or any other legal entity. An example of the information can be consulted at the following links:

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EIf you fail to comply with this obligation, fines of up to 2 million pesos (approximately 100 thousand dollars) may be imposed for each controlling beneficiary.

At Gonzalez Calvillo we remain at your service to resolve any questions in relation to the above.

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About Gonzalez Calvillo

For more than 30 years, Gonzalez Calvillo has been at the forefront of the legal market in Mexico as a multi-service firm based on its transactional approach, as well as specializations in a wide variety of practice areas. The firm is recognized for its ability to build disciplinary teams to the most complex legal challenges, as well as for its long record of providing innovative business and regulatory advice to prominent local and international companies. Frequently described as a pioneer of legal services in Mexico, the firm is recognized for its commitment to doing things differently, generating tailored solutions and creating transformational changes in the legal field that allow its clients to achieve their objectives.