Mexico: An Introduction to Tax

01 October 2015 Publication
Authors: Fernando Camarena Cardona

Chambers Latin America 2016 Online Overview

Mexico's legal tax practice has undergone many changes over the last several decades. Years ago, the legal tax practice was dominated by accounting firms which were entrusted with most of the significant tax work in Mexico. Attorneys did not play an important role, and in many cases were only responsible for assisting accountants in tax controversies. Since only a handful of full-service law firms had significant tax practices, it was not uncommon for law firms to rely on accounting firms for transaction-related tax issues.

Today, things are very different. Mexico's legal tax practices are booming. It is inconceivable to think of a major full-service law firm without a tax practice. Tax attorneys play an important role in day-to-day business transactions and are no longer viewed as ancillary support for accountants. In many business transactions, the lead tax advice is now provided by tax attorneys, no longer accountants. To keep pace, accounting firms have consequently grown their tax departments and, together with their in-house accountants, provide integrated tax advice to clients.

The relevance of legal tax boutiques in Mexico is also increasing. Traditionally, legal tax boutiques in Mexico were only active in representing clients in tax litigation and were seldom involved in other areas. However, to continue to meet their clients' legal needs, tax boutiques have improved their offerings to include a wide range of tax services and are no longer viewed exclusively as tax litigators.

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