It depends. The Mexican law provides options that will allow you to diminish or be exempted from paying a CGT. In general, while land and commercial buildings are not subject to tax exemptions, the primary residence is. The government allows to exempt up to 700,000UDIs per person (about 4000,000pesos) every 3 years on primary residence…
We recommend using a tax accountant to estimate your capital gains tax obligations. The cost of the fiscal calculation is 700 pesos and it will be delivered to you in an excel format, which can be modified in case that the sales price or other factors contemplated in the fiscal calculation vary. In order to…
Yes. Actually, it makes sense not to include furniture in the public deed as if it is included, it generates a 16% VAT tax due to being a commercial sale. It is recommended that the parties agree in a private sales contract if the furniture is included or not in the sales price.
Any upgrades done to the fixed elements of the property and/or any amplification of the existing construction are considered to be deductible costs, for example: new kitchen, bathroom remodels, roof or floor replacement, new windows, construction of a swimming pool in your backyard etc Furniture, decorations and routine maintenance of the property are not deductible….
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