Mexico: New obligations for crowdfunding platforms to withhold income tax and VAT

Rules became effective on October 12, 2024

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October 24, 2024

The Mexican tax administration (SAT) on October 11, 2024, issued the Second Resolution of Modifications to the Miscellaneous Fiscal Resolution for 2024, which added new rules 3.16.13. and 4.1.12. imposing various obligations on debt crowdfunding platforms, including withholding and payment of income tax (ISR) and value added tax (VAT) on interest income earned by investors/creditors providing financing through the platforms.

The new rules also require crowdfunding platforms to present certain information to the SAT regarding the interest paid and taxes withheld, as well as the issuance of the digital tax receipt online (CFDI) in cases where it is necessary to support the withholding.

The new rules became effective on October 12, 2024.

Read an October 2024 report (Spanish) prepared by the KPMG member firm in Mexico

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