Regulatory Context
On July 9, 2026, the First Set of Amendments to the Miscellaneous Tax Resolution for 2026 (“RMF”, per its acronym in Spanish) was published in the Federal Official Gazette (“DOF”, per its acronym in Spanish). The key changes include: (i) new rule 3.5.23, which establishes an administrative relief allowing financial institutions to refrain from withholding the Income Tax (“ISR”, per its acronym in Spanish) on interest paid to investment project trust certificates (“CERPIs”, per its acronym in Spanish), in the proportion attributable to pension and retirement funds pursuant to Article 79, Section XXI of the Income Tax Law; (ii) new Chapter 11.18, which sets forth the operating rules for the application of the tax incentive for film and audiovisual production provided for in the decree published on February 16, 2026; (iii) rule 9.1.24, which allows digital platforms no to withholding income tax and Value-Added Tax (“VAT”) from airlines protected under a treaty for the avoidance of double taxation or affiliated with the International Air Transport Association (“IATA”), with effects as of January 1, 2026; and (iv) a transitional regime allowing taxpayers to request the application of the amended Article 141 of the Federal Tax Code (“CFF”, per its acronym in Spanish) with respect to guarantees for the tax interest previously provided or currently pending.
Practical Impact
Trusts issuing CERPIS may benefit from a reduction in the withholding of Income Tax on interest corresponding to the net return on investments made by pension funds, provided that they filed the corresponding notice with the tax authorities (form 97/ISR), obtain the written consent of the paying financial institution, and maintain a special registry of the ownership of the certificates. Failure to comply transfers to the trustee the obligation to remit the omitted withholding, together with inflation adjustments and surcharges. Film and audiovisual production companies, as well as assignees of tax credits in the audiovisual sector, must recognize such tax credits as an integral part of their accounting records. Taxpayers with tax assessments secured by guarantees have thirty calendar days from the entry into force of the decree published on April 9, 2026, to request the application of the new Article 141. In addition, the restriction on Digital Seal Certificates (“CSD”, per its acronym in Spanish) based on the grounds set forth in Article 17-H, Sections XI through XIII of the CFF, to various sector-specific invoicing relief measures.
Considerations
Fund managers should review the ownership structure of their investment vehicles and coordinate the filing of the required notices before the next interest payment. Taxpayers participating in the tax incentive for film and audiovisual production should continuously monitor compliance with the requirements set forth in the decree, since any failure to comply triggers payment of the corresponding tax, together with inflation adjustment and surcharges, within the following month. It is also the SAT’s first general vacation period (from July 20 through 31, 2026) when calculating administrative deadlines.
Financial institutions, trustees, fiduciaries, and fund managers should timely review the documentation and notices required to apply the administrative relief provided under rule 3.5.23, since failure to comply transfers to the trustee the obligation to remit the omitted withholding, together with its corresponding accessories.
