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The Mexican Congress on 26 October approved several changes to different tax laws as part of the proposed 2022 budget. These changes include amendments to the Mexican Income Tax Law (MITL), the Value-Added Tax Law (VATL), and the Mexican Federal Tax Code (MFTC). These amendments are still pending publication in the Federal Official Gazette; most of them are expected to enter into force on 1 January 2022. 

Given the broad nature of the changes introduced, multinationals with operations in Mexico should analyze the impact of these new provisions as well as the relevant business requirements and tax formalities to observe when determining the Mexican tax treatment.