Mexico: Tax reform legislation advances | KPMG | GLOBAL

Mexico: Tax reform legislation advances in Mexican Congress

Mexico: Tax reform legislation advances

The Mexican Senate on 26 October 2016 passed the tax reform legislative package for 2017, that includes some 50 measures affecting various tax and legal provisions under Mexican law.

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The list of tax reforms approved by the Mexican Congress includes tax relief with respect to labor subcontracts, deductions for machinery and equipment, and individual (personal) deductions. There are also incentives with respect to electric and hybrid cars, bicycles, and motorcycles, as well as incentives to foster sporting and visual arts projects. Other provisions concern the value added tax (VAT) and include measures related to the VAT on imported services and information technology services. Lastly, there are provisions concerning the taxation of hydrocarbons.

 

Read an October 2016 report (Spanish) prepared by the KPMG member firm in Mexico

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