Here is a comprehensive list of tax changes that were proposed by Calderon for 2010. It is my understanding that virtually all of these WILL be in
effect. This is from the website of the accounting firm Deloitte (formerly Deloitte and Touche?).
Included will be some "temporary" increases in beer and hard liquor, an increased tax on cash deposits into mexican banks and the lowering of the
threshold at which this deposit tax takes effect.
In that article, they talked about the "flat tax". I wonder if they are talking about the current I.E.T.U. tax wherein the article stated, in
pertinent part, "...it is proposed to disallow the current tax loss credit against income tax due in the same fiscal year".
The above citation can have several legitimate interpretations, thereby making the statement ambiguous.
I am hoping for some solid changes, especially with regard to the IETU tax and hopefully about reducing or even eliminating the need for official
"facturas" for deductible expenses.
While everyone criticizes US federal tax law and application, Mexico, compared to the way USA federal tax law is admininstrated and promulgated,
Mexico is in the stone age and does things impulsively which usually winds up shooting their own country in their own economic foot.
"Stupid is as stupid does."
[Edited on 12-12-2009 by MitchMan]surebought - 12-11-2009 at 12:36 PM
All these new tax changes didn't hit me a all. The Farmacia(no iva still on medicine.) Coffee(no iva). Jewelry no changes. You got to love the new
government. Landlords who rent are wide open to heafty increases. Used car dealers tambien. If that's you, don't register. Don't get a Registro
Federal de Causantes. Your an American as far as all this is all concerned. Give provisional receipts. The only taxes they expect from us are the
one you pay to the bank for immigration documents.Riom - 12-11-2009 at 05:56 PM
Quote:
Shareholders would have unlimited liability for the tax liability of a corporation that is unable to pay the tax in proportion to their holding in the
company.
How to kill investment. I'm sure it's got good intentions, to stop people running through a series of corporations leaving debts behind in each one,
but the effect is it makes many forms of venture capital impractical.
For example providing some funds to help a local business get off the ground in return for a shareholding would be too risky - you could lose more
than your investment.
Quote:
The tax on cash deposits .... It is proposed to increase the rate of tax from 2% to 3% on all cash deposits made in a specific month and to reduce the
exempt amount to MXN 15,000.
Worth noting if anybody brings down cash to deposit (in any currency). Still doesn't apply to electronic transfers.
