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Mexico

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Tax authorities

Servicios de Administracion Tributaria
Tel: +52 1 800 4636 728

Tax rates at a glance

(As of September 2009) 

Corporate income tax rate 28%
Capital gains tax rate 28%
Branch tax rate 28%
Business tax at flat rate,(a) 17%/17.5%(b)

Withholding tax
Dividends 0%
Interest 4.9%/10%/15%/21%/28% (c)
Royalties from patents and licences 25%/28%/40%(c)
Branch remittance tax 0%

Net operating losses (years)
Carryback 0
Carryforward 10

(a) Minimum tax with respect to corporate income tax.
(b) The 17% rate applies during in 2009 and 17.5% from 2010.
(c) The 40% rate applies where payment is made to a company in a tax haven jurisdiction.

Source: Professionals from Mijares, Angoitia, Cortés y Fuentes, member of Taxand, the global network of leading independent tax firms.

Mexico

Carlos Montemayor, David Cuéllar and Francisco José Zamora
PricewaterhouseCoopers
Mexico

Carlos Montemayor, David Cuéllar and Francisco José Zamora of PricewaterhouseCoopers analyse how worldwide recession, inflation, A/H1N1 flu, and other tax amendments affected the Mexico's economy and tax system in 2009

[Show full article]

Tax

The significant effect of the financial crisis on the Mexican tax market has been in terms of reduced fees clients are able and willing to pay for external advice, which has led to intense competition between tax practitioners to cut costs and win work.The ... [more]

Chevez Ruiz Zamarripa y Cia maintains a strong first tier position this year, with exceptional market recognition. The firm makes a point of not hiring lateral partners, preferring to promote associates once their training with the firm is complete. ... [more]

At PricewaterhouseCoopers, leading partner Roberto del Toro is retiring, although he will remain as external consultant with the firm. Nico del Castillo is also in a consulting role with the firm now. To make amends for the loss of senior members, the ... [more]

Basham Ringe y Correa has a compact tax practice of the highest quality. Luis Ortiz Hidalgo is a very highly regarded practitioner. The firm added four associates this year. It advised a natural gas supplier in negotiations with the tax authorities during ... [more]

Deloitte has a strong practice in Mexico, offering a wide range of clients a full service tax practice. Its practice is continuing to grow across the country.

Manuel Solano leads the tax practice at Mancera Ernst & Young, which this year brought a US partner to join the Mexico group. With three other senior hires, the group has significantly bolstered its team over the last 12 months. The firm has been busy ... [more]

Muñoz Manzo y Ocampo has launched into the Mexican tax market as serious competition for the more established groups. Named partner Eduardo Ocampo "knows how to move in transactions, how to solve problems", according to one competitor, who also notes ... [more]

Ortiz, Sosa, Ysusi y Cía is the firm Eduardo Ocampo left this year. This tax boutique firm is part of the Lataxnet, meaning it has close ties with leading law firms across Latin America. The firm assists impressive clients with all manner of tax problems ... [more]

Baker & McKenzie added 10 people to the tax group this year. The firm is particularly well known for transfer pricing in this market, with Moisés Curiel frequently recommended by competitors. The firm has been very busy in tax controversy this year, ... [more]

Capín, Calderón, Ramírez y Gutiérrez-Azpe is working to significantly expand the firm's tax service offering. The firm wants to have a multidisciplinary tax group through the incorporation of accountants and economists dealing with tax work .In the last ... [more]

KPMG is seen by market commentators to be "making efforts to improve its practice by trying to attract good people." The firm is doing well and provides clients with excellent services.

Ortíz Sainz y Erreguerena is said by market commentators to be still reorganising its tax group following the death of luminary Jorge Sainz. "It is still a good firm, with capable people though," said one competitor. The firm maintains a solid reputation, ... [more]

Santamarina y Steta is commended by competitors for its "excellent litigation skills." The team of three partners, six associates and four or five law students and law clerks is set to expand with the arrival of two more associates by the end of the ... [more]

Tax boutique Tron Abogados has made strides this year, increasing market recognition and winning some important clients. Manuel Tron, who was this year named IFA worldwide president-elect, is described as "a very good guy, talented", by a competitor. ... [more]

Turanzas, Bravo & Ambrosi is "a small firm that seems to be making a lot of efforts to be involved in the international field", said one market observer. Another recognises that the firm has "rapidly gained recognition among high profile clients." The ... [more]

Mijares, Angoitia, Cortés y Fuentes - Taxand has seen two associates move on this year, but despite this has assisted clients with some interesting and sophisticated tax matters, such as the rebuilding of the Mexican highways and advising CIE Automotive ... [more]

Natera y Espinosa is a small boutique firm led by highly regarded individual Christian Natera who is described by a competitor as "very good".

See also

Mexico
North America

Law firm contact details