In accordance with article 32-B Ter of the Federal Tax Code and the Rules of the 2022 Fiscal Miscellaneous Resolution, the information of the beneficial controller must be obtained and kept up to date as part of the accounting records.
This obligation must be fulfilled the legal entities, trust members, as well as contracting parties or members in the case of any other legal entity, as well as notaries, public brokers and any other person involved in the formation of companies, trusts and any other legal entity.
The obliged entities must include information regarding names, date of birth, country of origin, tax ID, contact information, marital status, fiscal and private domicile, chain of title and control, among others, or the beneficial controller.
The penalties in case of failure to obtain, keep, have the information updated and submit the information to the authority within the established term, range from Mex$800,000.00 pesos to Mex$2,000,000.00 for each unidentified beneficial controller.
The obliged entities will have to implement procedures to identify their controller beneficiary. In addition to the authority, this information will be requested by notaries, commercial brokers and financial institutions. The main problem lies in the vagueness of the assumptions and the requirements of the regulation, which will generate uncertainty due to the diversity of interpretations and will make it difficult to conduct normal business.
Authored by Juan Francisco Torres Landa, Ángel Domínguez de Pedro, Federico de Noriega, Francisco Palmero, and José Carlos Altamirano.