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Mexicans to pay less income tax in 2018

The Ministry of Finance and the Congress of the Union approved a reduction to the income tax calculation given the increase of the inflation rate

File photo/EL UNIVERSAL
English 14/01/2018 14:43 Rubén Migueles Mexico City Actualizada 14:44

This year begins with one good news: you will pay less income tax (ISR) in 2018. Individuals, employees, freelance professionals, sole proprietors, and landlords will benefit from this reduction.

The Ministry of Finance and the Congress of the Union approved last October a reduction to the income tax calculation given that the inflation rate surpassed the 10% accumulated from December 2013 to December 2017.

While for most of us this deduction will translate into a slight improvement in purchasing power, individuals who received a raise above the inflation rate will be the ones to benefit the most from this measure.

Below is an example of how income tax will be updated per wage range for individuals:

chart_tax.jpg
Chart created with data from the Ministry of Finance and in MXN.

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