Mexico: 2014 Tax reform law passed

Global Watch ()
Mexico passed a tax reform law that will take effect on January 1, 2014. There are many broad changes, including new income tax brackets, new taxes on certain dividends and gains, and an additional restriction on personal deductions. The overall tax liability on compensation and investment income will likely increase for tax resident individuals, causing a potential increase in the tax equalization costs for companies with international assignees in Mexico.