Mexican Flat Rate Tax Analysed In New Report
A new report, from the authors of 'Practical Mexican Tax Strategies', has been
published by WorldTrade Executive, and reports on the latest Mexican tax reform
and the new flat tax (IETU tax). According to the report, one of the key issues is whether the new tax will
be creditable in other countries, as there are fears that new tax may not be
creditable for US federal income tax purposes. However, agreements have reportedly been reached with the governments of several
other countries, including Italy, India, South Africa, the Bahamas and the United
Kingdom, on whether the IETU will be creditable The Special Report also discusses determinations made by the Canadian tax authority
as to whether the new Mexican flat tax will be recognized as an "income
tax" for the purposes of the Canadian foreign tax credit. .
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