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%.

http://www5.diputados.gob.mx/index.php/esl/Comunicacion/Boletines/2015/Octubre/18/0257-Avala-Comision-de-Hacienda-Miscelanea-Fiscal-2016

Good, I'll expect a $$ decrease in my rum & cokes.

Intercasa wrote: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.

I'm tired and didn't have the stamina to read the link. Are these changes effective immediately, or if not, when? Once EPN signs it? Obviously interested most in the ISR issue. Thanks.

2016, almost 2 months away

Thanks. I'm closing on a house January 15, 2016 and hoping it goes into effect right at the beginning of the year.

Did I read somewhere that this still has to be approved by one of the legislative branches?