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Mexico To Hike Tax Thresholds In Line With Inflation

by Mike Godfrey, Tax-News.com, Washington

20 October 2017


Mexico is to increase individual income tax thresholds, as there has been double-digit inflation since they were last updated.

Under Mexican law, income tax thresholds must be adjusted when inflation since a previous update exceeds 10 percent. The Government estimates inflation has risen by 14.7 percent since the last update in December 2013. It is expected that new thresholds will apply from 2018.

The change could mean that taxpayers with income just above an income tax threshold could fall into a lower income tax band and should mean lower marginal tax rates for all taxpayers.

TAGS: compliance | tax | tax compliance | law | Mexico | tax thresholds | individual income tax

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