New Mexican Tax Reform Impacts Small Business
The most recent tax reform laws in Mexico have raised the business tax rate from eleven to sixteen percent. Changes have also been made to the type of accounting that small businesses will have to provide for goods and services. Business checking accounts at a Mexican bank will now be required. We can expect to see increases in prices and/or reductions in staff and facilities in the businesses that serve those of us living here on the Baja.
For a detailed summary, please see our Mexican News page.