An overview by Mijares, Angoitia, Cortés y Fuentes
On March 15, 2023, Mexico submitted before the Organisation for Economic Co-operation and Development, its instrument for ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“Multilateral Instrument”). Consequently, the Multilateral Instrument will come into force on July 1st, 2023 in accordance with its Article 34; and with respect to withholding taxes and residence taxation, it will take effect and be applicable as of January 1st, 2024.
The Multilateral Instrument will simultaneously modify 61 Double Taxation Treaties (“DTTs”) entered into by Mexico with various countries, including Luxembourg, the Netherlands, United Kingdom, Spain and Canada.
Find out more about these Tax Treaty measures and their impact here.
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