Wednesday, November 13, 2013

Summary of Mexicos New Tax Laws- Everyone will pay more

Summary of Mexico's New Tax Laws Prepared by Major US Law Firm

Both houses of the Mexican legislature have passed a new tax law that will become in effect once the President signs it into law.  He is expected to do so.  Capital gains and dividends are now taxed.  Income tax rates increase and Baja California will now pay the full 16% Value Added Tax. Read the details HERE.

This is going to raise the tax burden in many ways on almost all Gringos in Mexico.  However the increased taxes on dividends, stock sale capital gains, income, etc. are all creditable against your US tax on the same income.  

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