It is Mexico’s Federal Taxpayer Registry. This mechanism serves as the primary means by which the Mexican government tracks and manages its taxpayers. It’s a unique identification code assigned to both individuals and corporations engaged in economic activities within the country. For example, any business, from a small street vendor to a multinational corporation, operating and generating income in Mexico is required to be registered.
Its significance lies in ensuring tax compliance and enabling the government to effectively collect revenue for public services. Registration provides a formal record of economic activity, facilitating transparent financial transactions and minimizing tax evasion. Historically, its implementation aimed to modernize the tax system, moving away from less efficient methods of revenue collection and promoting a more accountable financial landscape.
