Mexico’s Tax Administration Service reported a significant increase in tax revenue from its enforcement of transfer pricing legislation related to multinational companies. When comparing the years 2019 to 2024, SAT recouped roughly 106.2 billion pesos (US$5.5 billion) worth of tax collection, which is a staggering 367% increase from the 29 billion pesos collected between 2013 to 2018. The total amount of collected from SAT for 2023 was over 19 billion pesos. Much of the increase has been attributed to the success of the specialized team created to deal with transfer pricing and their initiatives to reduce multinationals’ profit shifting to other countries. The major sectors impacted include; automotive, mining, electronic, telecommunications, and others.
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