{"id":9696,"date":"2018-08-21T15:37:27","date_gmt":"2018-08-21T20:37:27","guid":{"rendered":"https:\/\/quadranslawandfinance.com\/?p=9696"},"modified":"2018-08-30T17:08:16","modified_gmt":"2018-08-30T22:08:16","slug":"reform-to-tax-inheritances-donations","status":"publish","type":"post","link":"https:\/\/quadranslawandfinance.com\/en\/blog\/reform-to-tax-inheritances-donations\/","title":{"rendered":"Bill Proposal to Tax Donations and Inheritances"},"content":{"rendered":"<p><span style=\"color: #000000;\">Last August 8 of this year, a bill of law was proposed before the<strong> Legislature Assembly of the House of Representatives,<\/strong> an <strong>initiative<\/strong> with a project for executive order, aimed at <strong>taxing<\/strong> donations, inheritances and legacies with Income Tax (\u201cISR\u201d), received by individuals.<\/span><\/p>\n<h3 style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>Income lower than 10 million pesos, would be exempt from Income Tax (&#8220;ISR&#8221;).<\/strong><\/span><\/h3>\n<p><span style=\"color: #000000;\">It is proposed to establish a provisional payment within the next 15 days following receipt of the income at a progressive rate based on the \u201cvalue\u201d of the income as follows:<\/span><\/p>\n<p><span style=\"color: #000000;\">1.- Income between 10 and up to 50 million, would be taxed at 10%.<\/span><\/p>\n<p><span style=\"color: #000000;\">2.- Income between 50 and up to 100 million, would be taxed at 20% on the excess over 50 million.<\/span><\/p>\n<p><span style=\"color: #000000;\">3.- Income over 100 million pesos, would be taxed at 30% over the excess of the afore indicated upper limits (foregoing items II and III).<\/span><\/p>\n<blockquote>\n<h3 style=\"text-align: center;\"><span style=\"color: #000000;\"><strong><em>The afore indicated rates are only to calculate the provisional income tax payment, so that, not being a definitive tax, any amount over 10 million pesos might quickly get to the 35% and not to the 10%, 20% and 30% indicated in the justification of the proposed bill.<\/em><\/strong><\/span><\/h3>\n<\/blockquote>\n<p><span style=\"color: #000000;\">Residents abroad for tax purposes, should keep in mind that they might be subject to Income Tax (ISR) in Mexico, in case of getting title for free, of real estate property located in Mexico, or of Mexican corporations or their shares.<\/span><\/p>\n<p><span style=\"color: #000000;\">The bill refers that only 0.22% of the population of Mexico would pay this tax, exempting people with disabilities in terms of the General Law to Include Disabled Persons.<\/span><\/p>\n<p><span style=\"color: #000000;\">The tax would be in addition to the local taxes for property acquisition (i.e., taxes for acquisition of real-estate) that taxpayers must pay.<\/span><\/p>\n<p><span style=\"color: #000000;\">If the Union Congress passes this Bill into Law, it will be effective on the next day following its publication in the Federal Official Gazette. <\/span><\/p>\n<p><span style=\"color: #000000;\">In \u201c<em>QuAdrans law and finance<\/em>\u201d all lawyers and public accountants are at your service to help you with any questions or comments in this regard. <\/span><\/p>\n<p><span style=\"color: #000000;\">Likewise, we invite you to review\u00a0 your patrimonial structures and matters to consider the eventual incorporation of a tax burdening in general, estates, legacies and donations in our country, if surpassing the indicated limits.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\">We will be paying close attention to this bill and will keep you posted.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\">Legal and Accounting Consulting in Playa del Carmen.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last August 8 of this year, a bill of law was proposed before the Legislature Assembly of the House of Representatives, an initiative with a project for executive order, aimed at taxing donations, inheritances and legacies with Income Tax (\u201cISR\u201d), received by individuals. Income lower than 10 million pesos, would be exempt from Income Tax [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":9692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-9696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accountant"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bill Proposal to Tax Donations and Inheritances - QuAdrans law and finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/quadranslawandfinance.com\/en\/blog\/reform-to-tax-inheritances-donations\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Bill Proposal to Tax Donations and Inheritances - QuAdrans law and finance\" \/>\n<meta name=\"twitter:description\" content=\"Last August 8 of this year, a bill of law was proposed before the Legislature Assembly of the House of Representatives, an initiative with a project for executive order, aimed at taxing donations, inheritances and legacies with Income Tax (\u201cISR\u201d), received by individuals. 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