One of the main areas that companies need to address is the digitization of accounting. According to the accounting authority, it is necessary to increase the state's total revenue by 15 to 30% and to enact an income tax law that allows for deductions for medications and tuition fees adjusted for inflation. This issue could represent new reforms that would change the way companies calculate their taxes and establish a compliance relationship with the Tax Administration Service (SAT).
How can companies prepare for a new tax reform? One of the main areas that companies must address is the digitalization of accounting, which is becoming increasingly necessary to formalize all business processes, strengthen their finances, and project sustainable growth in the coming years. Another precaution that companies must take in the event of a potential tax adjustment or change in tax contributions is to create a cost and pricing plan to determine if tax incentives can be sought, particularly those resulting from business actions in favor of the environment. They can also apply for government support for institutions and programs that support local commerce.
Alliances, a key factor
It is crucial for companies to seek alliances with local and foreign enterprises engaged in nearshoring to establish distribution, procurement, and growth channels within the country. This can ensure a healthy financial position in anticipation of potential changes mandated by the Ministry of Finance (SHCP).
Planning and considering markets, pricing, and distribution channels will help strengthen finances in the face of possible changes. All of these strategies align with the trend towards digitalization and modernization of accounting systems, which is increasingly important among Mexican businesses.
Comments