divemulege
Junior Nomad
Posts: 95
Registered: 10-18-2013
Member Is Offline
|
|
Another new law
Another new law is coming out saying that if you spend more than $2000 pesos you have to use check or credit card. Not sure if it applies to
foreigners or not but quite interesting.
http://www.cadenanoticias.mx/nota.php?cont=notas¬a=83...
[Edited on 2-7-2014 by BajaNomad]
|
|
|
DENNIS
Platinum Nomad
Posts: 29510
Registered: 9-2-2006
Location: Punta Banda
Member Is Offline
|
|
This won't happen. Who, in a private sale, like buying a car, would ever accept a check?
"YOU CAN'T LITTER ALUMINUM"
|
|
|
shari
Select Nomad
Posts: 13048
Registered: 3-10-2006
Location: bahia asuncion, baja sur
Member Is Offline
Mood: there is no reality except the one contained within us "Herman Hesse"
|
|
yup...my accountant told me yesterday that any expenditure over 2,000 pesos must be paid for with your bank or credit card...no mention of
cheques...prolly not because all the facturas one gets for tax purposes HAVE to be electronic now...no paper receipts anymore...weird...folks are just
shaking their head in disbelief and muttering comments about the new government's policies. I cant imagine how small mama & pappa businesses can
swing it doing all this computer reporting...I find it infinitely challenging myself and makes operating a business even MORE complicated than it
already is.
|
|
|
bajalinda
Senior Nomad
Posts: 552
Registered: 6-7-2008
Location: Pacific Coast, BCS
Member Is Offline
|
|
right - but this applies to businesses, not the general public, if I understand the article correctly.
I've also been wading through all this new stuff with our accountant and everyone is grumbling about it here too.
|
|
|
dasubergeek
Senior Nomad
Posts: 694
Registered: 8-17-2013
Member Is Offline
|
|
PFFFFFFFFFFT. Yep. That'll actually happen, just like that law that says everyone has to fully declare their income is always followed in both letter
and spirit.
|
|
|
divemulege
Junior Nomad
Posts: 95
Registered: 10-18-2013
Member Is Offline
|
|
Translated: The physical - moral including persons Incorporation Fiscal Regime , and will have to stop using cash this year , exceeding its 2000 pesos
purchases , including making payroll workers , tax experts warned .
So they can make their deductible expenses , it is necessary that they be liquidated since opened in the name of the taxpayer accounts in the
financial system , as established by the new Law on Income Tax (ISR ) .
Either by electronic transfer , personal check from the taxpayer's account , credit card , debit card or service is to be made as will purchases and
higher payments to 2000 pesos , from this year.
Roberto Cavazos , director of CPA Global, said that according to the third section of Article 27 of the new Income Tax Law , payments to over 2000
pesos and should not be in cash but through a financial service payroll.
"The Law of previous ISR exempted payroll , however with the amendment to the Federal Labour Act now in the new Income Tax Law removed the exception,"
he said.
Raúl González Pérez Góngora fiscalist and Associates, said the IRS requirement that payments be through a financial service and no cash , is to
ascertain the true income and spending by taxpayers.
"Cash is not marking, with effective authority can not know the pace of life that bears the taxpayer can not trace , whereas if paying by check ,
electronic transfer or credit card , yes ," he said .
|
|
|
DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
|
|
EVERY TRANSACTION over an ever decreasing amount will be eventually monitored to INSURE the recipient's RFC number is recorded, with appropriate
notification to SAT/SHCP. Hahahahahahaha, how about the one where ATM transactions require your passport number.
The fun part about this is oh say, transactions where an extraneous may "rent" a casa to another extraneous without reporting proceeds to Hacienda and
then have Hacienda seize the home Fideicomiso or deed owned and nullify the residency permission of the lender.
You cannot even begin to imagine what the PRI is cooking up for new fees, regulations and restrictions. Like the one that absolutely FORBIDS under
gran delito federal the transfer of extraneous currency from one Mexicano to another. The money MUST be deposited in a dollar-only account and
properly taxed, before being extracted as pesos.
It is looking bleaker. I never thought in a million years some of this stuff would see the light of day. "It was said to me" the Baja California
proyecto nacionalizado for motor vehicles has moved forward another step.
I burned 214 pesos last night on a telephone call getting all the latest gossip. I hung up totally dispirited. I cannot believe they are going to do
this stuff...
A Lot To See And A Lot To Do
|
|
|
BajaBlanca
Select Nomad
Posts: 13214
Registered: 10-28-2008
Location: La Bocana, BCS
Member Is Offline
|
|
Yup and yup again. We were told that all our business transactions must be done by credit card from now on. Are you kidding me? The new facturas are
so complicated that our accountant has requested we do them thru her ... So, email her the details and she emails the factura/ invoice directly to the
recipient.
Right.
What do we do when there is no phone and no electricity? Give me a break. Very bizarre changes now. And David, I heard the same, no foreign money
can go into a Mexican acct, so family cant send money from the states to family here without the cash being doubly taxed (once in US and again here).
Time to go on a vacation and hope this blows over ((:
[Edited on 2-6-2014 by BajaBlanca]
|
|
|
DianaT
Select Nomad
Posts: 10020
Registered: 12-17-2004
Member Is Offline
|
|
| Quote: | Originally posted by BajaBlanca
..... And David, I heard the same, no foreign money can go into a Mexican acct, so family cant send money from the states to family here without the
cash being doubly taxed (once in US and again here).
|
That is going to really hurt and there are possibly some tracking implications involved in that one! OUCH
I just shake my head every time someone posts about how much they love Mexico because of the freedom from regulations. There are lots of reasons to
LOVE Mexico, but that is not one of them. And someday they may start enforcing all the laws and regulations!
|
|
|
dpwahoo
Junior Nomad
Posts: 98
Registered: 4-5-2012
Location: La Mision
Member Is Offline
Mood: Thirsty, and ready to fish!
|
|
Cash
I know that several times I went to home depot to purchase paint and supplies for my workers, they would not take anything over about 250.00 in
dollars. i cant remember if it applied to pesos also. And, it was a big hassle to get a manager over to re ring every thing back up, splitting the
total in half. This was last year before the tax increase, so i doubt it had anything to do with that.
|
|
|
DavidE
Ultra Nomad
Posts: 3814
Registered: 12-1-2003
Location: Baja California México
Member Is Offline
Mood: 'At home we demand facts and get them. In Mexico one subsists on rumor and never demands anything.' Charles Flandrau,
|
|
The people voted in the PRI. The dinosaurs have been planning this ever since Fox kicked the PRI out of Los Pinos. The greedy bastards cannot steal
money that is not there. Yeah, honesty: Raul Salinas: "Oh I made that 180,000,000 dollars in Swiss bank accounts deposited under alias names honestly
- SHREWD INVESTMENTS"
Who is the FOOL out there who believes Mexico is holding HUNDREDS OF BILLIONS OF DOLLARS in dollar reserves? Cash? Politicians? Billions upon
billions? If a Bank of Mexico executive team had such wealth they would be kidnapped so fast, oh wait, how can you kidnap someone living on the 140th
floor penthouse in Dubai - lapse of thinking here - that Bank of Mexico BANIX person would haved hauledass the instant all the pallets were aboard the
chartered jet.
The 21th century
El saqueo del siglo México 2000 está en marcha. Existe más botones para presionar por más pesos a caerse. Todo eso es lo que ellos quieren. Conserve
su ropa interior o dirá adiós también.
The best is yet to come. If you are extraneous you have NO VOTE. Got it. You are a twenty six point buck with a fluorescent bulls eye on your
shoulder. Gringos have money. Gringos with homes or businesses cannot complain.
Ya damned right I am angry, my kids are suffering from the effects of reaganized inflation. You can't see it cause the tax folks say "It Ain't So".
Loved it when bus ticket prices jumped TEN PERCENT in one month.
It isn't the DAMNED five percent tax increase. It is the Movie Star and her husband that orchestrates the PRI chicanery. Try living on a Mexican
income and put up with stuff. I've got to get fixed up and get back to Michoacan before my kid and grandkids starve to death. ARGGHHHH!
A Lot To See And A Lot To Do
|
|
|
baconjr
Nomad
Posts: 128
Registered: 7-14-2012
Member Is Offline
Mood: Es la vida de perro!
|
|
Technology
| Quote: | Originally posted by shari
yup...my accountant told me yesterday that any expenditure over 2,000 pesos must be paid for with your bank or credit card...no mention of
cheques...prolly not because all the facturas one gets for tax purposes HAVE to be electronic now...no paper receipts anymore...weird...folks are just
shaking their head in disbelief and muttering comments about the new government's policies. I cant imagine how small mama & pappa businesses can
swing it doing all this computer reporting...I find it infinitely challenging myself and makes operating a business even MORE complicated than it
already is. |
A friend of mine who operates a small business has a card reader on his smart phone. When he makes a transaction the money is captured, the proper
accounting is done in Quickbooks and seamlessly into Intuit for tax accounting. Maybe that is what the model is. A need for a more robust
infrastructure. Lets face it Mexico is corrupt and until they can gather data and show what is going on it will always be a mess.
|
|
|
Marc
Ultra Nomad
Posts: 2802
Registered: 5-15-2010
Location: San Francisco & Palm Springs
Member Is Offline
Mood: Waiting
|
|
Big gov libs should be happy with this.
|
|
|
dasubergeek
Senior Nomad
Posts: 694
Registered: 8-17-2013
Member Is Offline
|
|
Oh, Google Translate. Here's my own translation of it:
| Quote: | Physical persons—including those from the Fiscal Incorporation Regime—and legal entities will have to stop using cash this year for their purchases of
more than 2 000 pesos, including the payment of salary to workers, tax lawyers warned.
In order for their expenditures to be deductible, it is necessary for these to be liquidated from accounts opened in the name of the taxpayer in the
financial system, according to what is established in the new Income Tax (ISR) law.
Whether it be by electronic transfer, personal check from the taxpayer's account, credit card, debit card or service card, this is how purchases and
payments of more than 2 000 pesos must be carried out, starting this year.
Roberto Cavazos, director of CPA global, indicated that in accordance with the third section of article 27 of the new ISR law, even salary payments of
more than 2 000 pesos may no longer be made in cash, but must be made through a financial institution.
"The previous ISR law excepted the payment of salary, however with the change to the Federal Labor Law now in the new ISR law they have removed the
exception," he explained.
Raúl González, tax attorney at Pérez Góngora and Associates, said that the taxman's requirement that payments be through a financial institution and
not in cash, is meant to be able to know the true income and outlay of taxpayers.
"Cash leaves no trace, with cash the authoriities cannot know the lifestyle the taxpayer leads, and cannot track it; on the other hand, if he pays
with checks, electronic transfer, or card, yes, they can," he indicated. |
Sounds like those not subject to the will and ire of Hacienda don't need to worry about it—and neither will those who don't care if their payments are
tax-deductible.
[Edited on 2-7-2014 by dasubergeek]
|
|
|
MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
Member Is Offline
|
|
I realized years ago that Mexico handles administrative things extremely poorly and without much humanitarian concern, particularly financial matters.
Over the years they have come out with some of the dumbest policies.
Their banking policies and procedures are marooonic, not to mention the punishing tax policies and brash changes from one moment to the next.
It's like the ruling class sends their kids to the best schools in the USA, and when the kids get back, they put them in positions of responsibility
with their diploma and no practical experience eager to make policy devoid of proactive thinking, with a bias to furthering their upper class
advantages.
No wonder that the disparity of income and wealth is so great in Mexico. The lopsided disparity of wealth is so very bad, that their lopsided
disparity is almost as bad as that in the United States! Yeah, that bad! Makes you think...doesn' it?
[Edited on 2-8-2014 by MitchMan]
|
|
|
![[*]](images/xmbforum/default_icon.gif){kind=icon}
