Mexico: Tax reform finally approved
The tax reform introducing amendments to the Mexican income tax system with effective date 1 January 2014 has now been approved by the Mexican Parliament.
This is further to our Taxflash LT13085, dated 24 October 2013.
The main aspects of the proposed tax reform are as follows:
- A 10% capital gains tax on on-exchange transactions in Mexican equities;
- A 10% withholding tax on dividends paid to all non-residents and to Mexican individuals.
As yet, detailed guidelines and procedures concerning the application of the tax on dividend distributions and capital gains have not been released.
We continue to monitor the Mexican market for developments and will provide more information as it becomes available.
| This Taxflash is intended to provide customers with general information gathered from different sources that are generally believed to be reliable. Clearstream Banking S.A. does not guarantee the accuracy or completeness of the information and does not undertake to keep it up to date. Use of the information made available in this Taxflash is at the customer’s own risk and Clearstream Banking S.A., its subsidiaries and affiliates expressly disclaim any liability for any errors or omissions reflected herein. The information in this Taxflash does not constitute legal or tax advice. |