Mexico published new tax reform provision in official gazette on 11 December 2013, which is proceeding through the legislative process. The new legislation includes measures that may affect multinational entities with current or planned operations in Mexico, including:
Revoked of the individual business tax; imposing of a 10% tax on dividends; the foreign tax credit regime and the tax consolidation regime changes; Value added tax (VAT) and “special tax” on fossil fuel; 10% deductions of the taxpayer’s total gross income; 10% capital gains tax rate on the sale of listed shares.
