Derived from the Tax Reform for the year 2022, new provisions were included in the Fiscal Code of the Federation in force as of January 1, 2022 and, in the same way, various rules were included in the Miscellaneous Tax Resolution for 2022 all related to the obtaining and conservation of the information of the beneficiaries controlling legal entities, trusts, among others.

In general terms, a controlling beneficiary is that natural person or group of natural persons who obtain a benefit derived from their participation in a legal entity, a trust or any other legal figure.

The various provisions set out the criteria for the identification and determination of the controlling beneficiary, as well as the information to be collected and kept up to date from such controlling beneficiaries as part of the accounts and to be provided in the event that the tax authorities require it.

Similarly, new provisions were incorporated regarding infractions in relation to the obligations to obtain and preserve the information of the controlling beneficiaries, as well as the fines applicable in such cases, ranging from $500,000 to $2,000,000 pesos for each controlling beneficiary and according to the infraction that is committed.

In Fralla we put ourselves at your disposal in order to review and determine the documentation and information that must be obtained and kept as part of the accounting with respect to the controlling beneficiaries of the legal entities, trusts or legal figures in order to avoid the imposition of fines for the breach of this new obligation.

We remain at your service for any questions or clarifications in relation to this publication.

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February 2022

Mexico City, Mexico