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IMPACT – MEDIUM
What is the reminder? Mexico requires companies employing foreign workers to update their corporate registration certificate (CRC) annually.
What does it mean? All companies employing foreign workers must update their CRC with the National Immigration Institute (INM) no later than March 31.
Next steps: Companies employing and hiring foreign nationals should plan to update their CRC when submitting Annual Tax Declarations for the 2019 fiscal year.
Additional information: Companies must submit their Annual Tax Declaration to the Tax Administration Service by March 31. Following receipt of tax declaration submission confirmation, they must update the CRC with the INM by the end of March. Further, the INM may visit companies or interview company representatives to verify the information submitted with the CRC update.
Analysis & Comments: Companies are encouraged to update their CRC as soon as possible after receipt of their Annual Tax Declaration confirmation and no later than March 31 date, as the Immigration Law states that the CRC must be updated once the Annual Tax Declaration is completed. If an employer’s CRC is not updated on time, the INM may delay or reject its immigration applications.
Source: Deloitte. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited member firms or their affiliates that provide legal services. For legal, regulatory and other reasons, not all member firms provide legal services. This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms or their related entities (collectively, the “Deloitte network”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication. © 2020. For information, contact Deloitte Touche Tohmatsu Limited.
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