Mexican Tax Reform submitted by the President

PRI, PRD, Partido Verde y Nueva Alianza Deputies  made alliances in commissions so that the proposal of Mexican Tax Reform submitted by the President could advance with some modifications.

The main points of the proposal that will be discussed in full includes charging a tax of $ 1.00 per liter of soda and 5% to junk foods, so that next year will be charged tax on snacks, confectionery, chocolate and derivatives cocoa, custards and puddings, sweets, fruit and vegetables, peanut and hazelnut cream, milk candies, prepared foods from cereals, ice cream and popsicles.

Although PAN Deputies opposed Commissions (perhaps by conviction or perhaps to “look good” we do not know) they were overwhelmed by the other parties that were allied with 30 votes in favor, 12 against.

Among the highlights of the Tax Reform that advanced, we have:

01.- Yes 16% TAX will be charged on the sale of pet food.
02.- Yes 10% TAX will be charged of the gains in the stock market.
03.- Yes  to raises in  the income tax for high salaries.

  • 31% income tax for those earning $ 500,000 to $ 749.999 pesos in the year ($ 41.667 to $ 62.500 per month).
  • 32% income tax for those earning from 750.000 to 999.999 pesos in the year ($ 62.501 to $ 83.333 per month).
  • 34% income tax for those earning from $ 1,000,000-2,999,999 pesos in the year ($ 83.334 to $ 249.999 per month).
  • 35% income tax for those earning $ 3,000,000 pesos or more in the year ($ 250,000 and up per month).

04.- YES to increase the Sale Tax on the borders from 11%  to 16% to leave like the rest of the country.
05.- NO to Sale Tax on Tuition
06.- NO to Sale Tax on mortgage loans
07.- NO to Sale Tax on Sale of Housing.
08.- No  to collect sales tax on intermediate gold jewelry and bullion.
09.- Yes to charge $ 1 peso Sales Tax on each liter of soda.
10. – Yes to collect 16% Sales Tax on chewing gum.

These among other things are the changes that will damage our employment benefits including your Afore.

Mexican Tax Reform submitted by the President was last modified: April 29th, 2015 by Antonio H.