Tuesday, July 26, 2016
MAKE CERTAIN TO PAY YOUR TAXES ON RENTAL INCOME IN MEXICO OR ELSE
NOT EVERYONE RENTS THEIR MEXICO PROPERTY DURING THE SUMMER MONTHS………….
HOWEVER, IF YOU ARE CONSIDERING RENTAL INCOME FOR THOSE “HIGH SEASON” MONTHS,
DO IT NOW! ENROLL in the program, get the documents in order so no time is lost when you begin collecting the rents!
Why declare and pay taxes on Mexico rental revenues?
FOREIGNERS ARE OBLIGATED TO PAY TAXES ON INCOME GENERATED IN MEXICO. Mexico’s tax law is patterned after those of the United States and Canada (world rental system) which states in the First Article::
Article One: Physical persons (individuals) and legal persons (companies) are obligated to pay an income tax in the following cases:
I Residents of Mexico, must report and pay on all income no matter where the source is located;
II. Those with residence in a foreign country with a property in Mexico must report and pay on all income generated from that Mexican property.
If you own a property in Mexico and rent it often or only occasionally, ENJOY your rental income and SLEEP EASILY KNOWING YOU HAVE COMPLIED WITH MEXICAN TAX LAWS!
The Settlement Company® with many years of experience in the transfer of titles and resolution of problems related to title, is able to assist you in receiving your funds in an escrow account, complying with your fiscal obligations in Mexico, providing you with the overage and the documents you require in your country of residence to avoid double taxation!
for additional information, contact the Settlement Company today!
THE SETTLEMENT COMPANY®