Nov. 29, 2013
Here’s a summary of changes in Mexican tax laws for 2014 that affect us foreigners. This report comes from Lic. Spencer McMullen, a fine attorney in Jalisco, who specializes in legal issues affecting expats. You can contact Lic. McMullen at Chapala Law.
For CURRENT details, see our master article on taxes at: IRS Tax Issues for Americans Living and Working Abroad in Mexico – Master Article
On 11/29/2013 Lic. McMullen reports:
“Very extensive reforms have been made to Mexico´s tax laws and have been finalized in November, 2013 and will become effective on January 1, 2014 ….
There are new IVA sales taxes. . . .
Will anything change at customs (Aduana)?
Yes, temporary importation of certain goods will also start being taxed. … The mandatory use of customs agents for any value of goods to be imported has been eliminated. . . .
What about new banking regulations?
Starting in 2007, there had been a tax on large cash deposits: 2% on the amounts of deposits exceeding $15,000 pesos, which was increased in 2010 to 3% on amounts exceeding 15,000 pesos. . . .
Those taxes have now been eliminated. . . . Continue reading here.
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Full Article can be read at: New 2014 Tax Laws for Mexico that Affect Expats and Foreigners
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© Steven M. Fry
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