According to this new provision, taxpayers conducting investment projects in fixed asset consisting of purchasing or developing assets, rendering services or granting the temporary use or enjoyment of assets can receive a refund of the VAT originating from such projects within a maximum term of 20 business days after the day the respective application is filed.
In terms of this rule, the refund will proceed provided:
This benefit will not proceed if the taxpayer or any of its partners, shareholders, associates, members, participants or legal representative are considered by the tax authority to be taxpayers in default, are subject to the authority’s power to evidence or are conducting inexistent operations. Moreover, this benefit will not apply to those taxpayers who, over the last twelve months have been totally or partially denied refunds requested amounting to over five million Mexican pesos or otherwise, more than 20% of the amount requested.
The benefit set forth will not proceed with the first VAT application, which will be resolved in the regular 40-day term; subsequent applications are those that will benefit from the 20 business-day term.