What is the controlling benefit?
This new tax obligation is intended to identify, obtain, preserve and update the information of the controlling beneficiaries of different legal entities:
“The Controlling Benefit is a new obligation that entered into force in the Federal Tax Code as of January 1, 2022”
Who is obligated?
- Moral people;
- Trustees;
- Settlors;
- Trustees;
- Contracting parties or members, in the case of any legal figure;
- Public Notaries;
- Public Brokers;
- Third parties involved in the constitution of legal figures and
- Financial entities and members of the financial system.
Who is a Controlling Beneficiary?
Any natural person or group of natural persons who, directly or indirectly, are involved in the participation of a legal person, a trust or any other type of legal figure.
¿What information is required?
The main information required by the obligation of the Controlling Beneficiary consists of civil data, as well as tax data and it is due to the purposes of this new obligation; Among the data required to follow up on the obligation, some of them are:
- Full name;
- Date of Birth;
- Marital status;
- Federal Taxpayer Registry (RFC);
- Single Personal Registry Card (CURP);
- Among others.
What is the Internal Procedure Manual?
It is obligatory that the people involved in the participation of a moral person are documenting and implementing internal procedures attached to the new provisions. In the case of being required by the Tax Administration Service (SAT), there will be a period of 15 business days to provide the information previously documented and implemented in an Internal Procedure Manual.
What penalties are there for the Controlling Benefit?
It is necessary to appreciate that the fines for non-compliance with the obligation are high, this means that you can be fined from $500,000.00 MXN to $2,000,000.00 MXN for each Controlling Beneficiary that is not properly identified, for having incomplete files or with incorrect information, as well as temporary restriction of digital stamps, suspension of importer or exporter registers, among others.
