Impact of Tax Revenues in Mexico a consumer approach
Industry: Politics & Political Organizations
New validity of the tax rules for this year settled in Tabasco were delineated, this will impact consumer economy a summary by Adalberto Vazquez Gomez
México (PRUnderground) January 2nd, 2014
This month starts the application approved by the Congress of the tax rules , which were established for the new tax rates for goods and services in Mexico.
The list presented in Tabasco by Adalberto Vazquez Gomez of what you’ll pay . They are the following twenty taxes:
1 – . Tax on food and pets for sale
The food your pet – dog, cat and small animal – cost 16 % more next year , as if you buy a new pet. So if you have an animal to save .
2 – VAT to foreign land transport
Lawmakers agreed to a 16% VAT to foreign transport . Only exempt trains and transport in urban , suburban or metropolitan areas
3 – Tax gum or candy
In the case of gum that we love says Adalberto Vazquez Gomez stops having a zero rate because it is not considered a food , so consumers must pay a tax of 16% VAT .
4 – Approval of VAT at borders
The Senate canceled the preferential treatment and approved the tax, to spend 11 to 16%. With this, according to the opinion , inequity that occurs against similar operations are performed in the rest of the country is eliminated.
5 – . Eliminate the VAT on tuition
The fees are exempt from paying 16% VAT , Adalberto Vazquez Gomez said here should have also increased the deductible amounts .
6 – zero rate in gold and jewelery retail
Buying gold , jewels , gold , artistic or ornamental pieces will zero rate to prior sale and when the gold content of the product is at least 80 %.
7 – VAT Free Shows
The shows in Mexico Tabasco and sports , cinema , theater and circus left without new taxes .
8 – Tax on sodas and sugary drinks
Consumers should pay one more weight per liter for drinks hoisted flavor, as well as concentrates , powders , syrups , essences or flavoring extracts , which allow to obtain drinks hoisted diluted flavor, containing any added sugars .
9.- Tax on “junk” food and sweet bread is out of this concept .
The Senate approved an increase to 8% Special Tax on Production and Services ( IEPS) to high-calorie foods , which contain 275 calories or more per 100 grams a like sweets , candies , chocolates , chocolates , ice cream and ice cream, cookies and pasta, beer and soft drinks .
Because it has sugar, sweet bread Excluding this concept as the only bread roll , birote and ciabatta and tortilla or food for babies and infants are excluded .
10 – Cigars are outside the new taxes
The tobaccos from Mexico were exempted from levy of the Special Tax on Production and Services (IEPS ) .
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11 – Jet fuel is taxed
Used in aircraft jet fuel and other kerosene were not saved to pay new fees in IEPS , which will now be 12.40 pesos per liter.
12 – No tax for houses and mortgages
Buying a house that has a lower value to 3 million pesos 500,000 is exempt from VAT , as well as the leasing of housing and mortgages.
13 – Alcoholic beverage tax does not change
Beverages with alcohol content of up to 14 º GL have a tax of 26.5 % , while for soft drinks and beer with a higher alcohol content of 20 ° GL, the rate will be 53 %.
14 – Increases income tax for those earning more
Senators proposed the income tax of 30 % for individuals earning up to 750,000 dollars , they pay 32 % who earn more than that amount , for those with incomes of more than 1 million pesos will have to pay 34 % income tax and those earning more than 3 million , the tax shall be 35% .
15 – Miners Resources for municipalities
Earnings from mining must pay 7.5% by revenue. In addition, municipalities where mining occurs receive 50 % of the funds raised by this activity ; entities would remain at 30% and 20 % with the federation of resources.
16 – Taxing the earnings of those who play in the stock market.
Individuals must pay a 10% rate on income they obtain by buying shares in the stock market . The levy will be similar when those profits are earned by foreign residents .
17 – .A new opportunity for small businesses
The REPECOS ( Small Taxpayers Regime ) will have 10 years to enter the general arrangements . As anticipated by Adalberto Vazquez Gomez .
18 – “Gasolinazo” fuel increase We are not saved
Currently in Tabasco, monthly gasoline up 11 cents. Although these increases will now be under 6 cents a month for Magna gasoline and 8 cents for premium .
19 – .Goodbye to the flat tax and the tax on deposits
Disappear the Business Flat Tax and the Tax on Cash Deposits (IDE ) , so that corporate income is taxed only at the ISR . As in Tabasco Hoy are taxed much less .
20 – New limit on the tax deduction
By 2014 the professionals (individuals) conducting annual returns may deduct a maximum of 50 % of their total annual income.
Adalberto Vazquez Gomez is a CPA with expertise in finance and trading , the article presented here are for this years taxes, residents in the state of Tabasco; Mexico must be aware of them . As will be seen considerations in education and health are up to come. You can also visit this video if interested on some vacations: https://vimeo.com/76806431
About Adalberto Vázquez Gómez
Adalberto Vázquez Gómez is an accountant in Tabasco, Mexico with experience on public and private administration.