Tax reform can be defined as the modification or change of a country's tax regulations. In this way, the law can establish new parameters or statutes that must be complied with by both individuals and corporations. The legislative power is in charge of making all these changes.

What is it for?

A tax reform has three main objectives:

• Contribute to national economic growth.
• Simplification of taxpayers' fiscal procedures.
• Combating tax fraud and tax evasion.

A good tax reform allows the country to improve its economy.

Who needs this SSL certificate?

These are some fundamental changes that were made in the tax reform that you need to know in order to comply correctly with your tax obligations and forget about any problems:

CSR for individuals or employees

The Simplified Reliance Regime for individuals consists of reducing the payment of ISR to a range between 1 and 2.5% of their income. It is aimed at all individuals whose annual income is below 3.5 million pesos.

CSR for legal entities or companies

The Simplified Trust Regime is designed for companies with annual revenues of less than 35 million pesos. This regime seeks to provide more liquidity to companies so that they can invest capital in immediate expenses. This regime for legal entities will be applied gradually during the first months of 2022.

Notification of cash deposits

Now, cash deposits in excess of 15 thousand pesos will have to be reported. Financial institutions are the ones that must report it to the tax authorities.

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