3 tax changes for 2016 that may benefit you

Mexican legislators approved reforms of the tax law for 2016.

The biggest change is that people will be able to exempt the sale of their primary residence from capital gains every 3 years instead of the current law which is every 5 years.

Also people will have a higher amount they can deduct from taxes for their cars of $175,000, up from 130,000 pesos.

For soda lovers, the tax on high caloric content beverages will be reduced by 50%.



About the Author:

Litigating Attorney and Official Court Translator in the State of Jalisco, Mexico