SOME FOREIGN OWNERS ASSUME THEY DO NOT NEED TO PAY TAXES ON THE PROPERTY BECAUSE THE INCOME FOR THE RENT IS PAID TO THEIR HOME COUNTRY BANK ACCOUNT, THIS IS NOT THE CASE. ANY RENTAL PROPERTY IN MEXICO IS SUBJECT TO TAX IN MEXICO, NO MATTER WHICH COUNTRY OR BANK ACCOUNT THE RENT IS PAID TO.
Property owners that do not comply with these laws may lose their rights as the property owner, face possible jail time, fines, deportation from Mexico and forced sale of the property.
Wednesday, December 18, 2019
SAT goes after landlords for not declaring rental income
By John Glabb CIPS - The Settlement Company