Mexico: Tax reform proposals in economic package for 2023

The economic package does not include any significant proposed changes to existing taxes.

The economic package does not include any significant proposed changes to existing taxes.

Mexico’s president on 8 September 2022 presented to the Mexican Congress the economic package for the year 2023.

The package does not include any significant proposed changes to existing taxes, but it is possible that changes could be made during the legislation process.

With regard to taxes, the proposed changes include the elimination of the additional 8% income tax deduction for taxpayers who donate books, newspapers and magazines, and rules for income tax withholding by financial institutions that are part of the Mexican financial system (similar to an estimated income tax payment on individual depositors).

Read a September 2022 report (Spanish) prepared by the KPMG member firm in Mexico

 

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