As a result of SD Global’s active membership in PrimeGlobal, one of the largest associations of independent public accounting firms in the world, Schneider Downs offers access to an ever-growing global network. It is this involvement and the relationships with these firms that enable us to provide our clients with firsthand knowledge and expertise of the complexities and nuances of operating in foreign markets. As part of our SD Global International Education series, we recently hosted a Doing Business in Mexico event featuring Juan Ignacio Rivero, Managing Tax Partner at Rivero & Olivares.
The event opened with a presentation from Mr. Rivero highlighting the following components of the overall Mexican business environment:
- Overview of the governmental, economic and financial systems
- Investing in Mexico - implications of various activities within Mexico
- Taxes and Duties
- Auditing and Accounting
- Opportunities and Threats
Immediately following the presentation, Mr. Rivero fielded questions from business leaders and tax professionals alike offering his personal insight on particular situations and expanding on areas covered throughout the presentation.
One anecdote from the evening that evoked laughter from all in attendance was the attempt by some Mexican taxpayers to avoid the limited deductibility of corporate plane expenses. Juan explained that attaching sprinklers to the underside of corporate jets in an effort to qualify for agriculture purposes, permitting additional deductions, will not hold water under audit. Juan did discuss more appropriate tax planning techniques.
For more information about SD Global, doing business in Mexico or a copy of the presentation, please contact Mary Richter at 412-697-5250.
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