Mexico, through the exchange of information upon request to several jurisdictions (EOIR, for its acronym in English), raised the equivalent of 516 million euros during 2021 and so far in 2022. This is the largest collection by individual taxpayers, according to the report Fiscal Transparency in Latin America, prepared by the Organization for Economic Cooperation and Development (OECD).

The report detailed that as a result of the sale of a Mexican company, the Tax Administration Service (SAT) determined that taxes were only being paid for 50% of the income generated from this operation and the other 50% was transferred to other countries. through trusts and entities.

Individuals with tax residence in Mexico were the presumed beneficial owners of the trusts and entities, but with the EOIR mechanism, the SAT obtained information on the directors, shareholders and beneficial owners of the trusts and entities.

After exchanging information, the SAT issued a tax ruling for foreign income not declared and taxed under the rules of foreign companies so that natural persons recognized the income derived from the sale of the Mexican company.

“Mexico has managed to recover a very significant amount through the exchange of information,” said Zayda Manata, head of the Secretariat of the Global Forum on Transparency and Exchange of Information for Tax Purposes of the OECD, in an interview with El Economista.

“Mexico is at the center of this fight against opacity and to promote transparency. We would like the country to grow more this leadership that it has in the region, it can still do more”.

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