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If you have just opened a business in Mexico or have invested in a property for your own use or for renting on a digital platform, it is important to be aware of the latest changes in Mexican tax legislation. 2022 has seen the introduction of new regulations that can affect your interests; your local Mextax experts can keep you informed and up to date about how these changes can affect you and show you how to deal with them. Mextax is here to advise you on how to save both time and money when making your tax declarations and help you avoid unwanted mistakes with your taxes.

What exactly are the new regulations for 2022 and how do they affect you?

If you have invested in a vacation home and are also renting it on a digital platform such as Airbnb, you will have to continue with the scheme you have managed up to 2021; in other words you can choose to consider your payments (withholdings made by the platforms) as definitive, if your income does not exceed 300,000 pesos, or pay their taxes through monthly accounting & tax declarations.

It should be clarified that individuals who grant the temporary use or enjoyment of goods may also choose to pay income tax under the Simplified Trust Regime, provided that the total income from their activity obtained in the immediately preceding fiscal year does not exceed the amount of three million five hundred thousand pesos.

Among the main changes introduced in the 2022 tax regime is the obligation for all individuals over 18 years of age to obtain their Federal Taxpayers Registry (RFC), regardless of whether they generate income or not. The SAT will have the power to cancel or suspend the RFC when a taxpayer ceases to carry out activities for five consecutive fiscal years.

Banks are now obliged to report to the tax department on a monthly basis all deposits of over 15,000 pesos received in your account. If any discrepancies are found between your income and what you spend, you can face extra taxes.

Simplified Reliance Regime; this is a series of measures with which the federal government intends to simplify the payment of Income Tax (ISR) and reduce compliance costs, especially among small taxpayers, without the need for the support of third parties, using principally electronic invoicing in order to achieve automated calculations and thus reduce the administrative burden, according to the initiative.

Mexican tax law can be complicated at the best of times and, as in any country, it changes from year to year. The experienced Mextax team of accountants constantly receives training and refresher courses in the latest developments in taxation regulations, and they give you the benefit of this invaluable information by applying it to your specific needs.