As we mentioned in previous tax news, the Mexican Congress approved the implementation of an additional duty to holders of mining concessions and assignments for the exploration and extraction of minerals and substances subject to the Mining Law, by applying a rate of 7.5% on the difference resulting from decreasing the income from the transfer or sale of extraction activities (only if positive), the authorized deductions in terms of the income tax law.
Likewise, the Mexican Congress approved an additional duty equal to 50% of the maximum quote established by the Federal Duties Law, for those concessionaires who do not carry out works and exploration and exploitation during two consecutive years, in the first eleven year period, starting from the date of issuance of the respective concession title. Also, this duty will be increased in a 100% when inactivity takes place in a twelve year period or afterwards, payable on a semi-annual basis, in both cases.
In this sense and based on different information provided by attorneys specialized in tax lawsuits, the due date to interpose amparo actions against this new duties is next Thursday February 13, 2014.
As you may be aware our Firm does not have legal area; nevertheless, in case you need support and advice about this amparo procedure, we will be able to refer some friendly law Firms that are able to do so.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.