Mexico: Tax relief for taxpayers affected by Hurricane Otis
Various tax benefits granted to taxpayers in areas affected by severe rains and strong winds on 24 October 2023
Various tax benefits granted to taxpayers in areas affected by severe rains and winds
The Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público—SHCP) on 30 October 2023 issued a decree by which various tax benefits are granted to taxpayers in areas affected by severe rains and strong winds on 24 October 2023.
The decree is applicable to taxpayers who have their tax domicile, agency, branch, or any other establishment in the affected areas, corresponding to the municipalities of the state of Guerrero indicated in the declaration of natural disaster that is issued by the competent authority.
Taxpayers who make salary payments generally for the provision of a subordinate personal service may pay the income tax withholdings (impuesto sobre la renta—ISR) of their workers corresponding to the months of October, November, and December 2023, no later than January 2024, February 2024, and March 2024, respectively, without updates, surcharges or fines having to be covered.
Read an October 2023 report (Spanish) prepared by the KPMG member firm in Mexico
Additional reports from the KPMG member firm in Mexico examine:
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