To learn about the main definitions related to taxes, we invite you to read the tax guide for taxes in Mexico.
Below are the main definitions related to tax issues in Mexico:
SAT: The Tax Administration Service is the highest tax authority in charge of collecting taxes in Mexico.
IMSS: The Mexican Social Security Institute is a decentralized body of the Mexican federal government, dedicated to providing health and social security services to the population affiliated with said institute.
INFONAVIT: The Institute of the National Fund for Workers' Housing is a Mexican organization, which aims to provide workers with mortgage and non-mortgage loans related to housing.
RFC: The Federal Taxpayers Registry is the tax key required by natural or legal persons in Mexico to carry out economic activities.
CFDI or Invoice electronics: The Internet Digital Tax Receipt is a document in XML format that serves as a tax receipt, also known as an invoice.
e.signature: The e.signature or electronic signature is a digital file that identifies taxpayers and allows them to sign documents electronically, such as tax returns.
CFS: The Proof of Tax Status is the document with which a natural or legal person can know their status before the SAT.
Opinion of compliance with tax obligations: This document issued by the SAT allows you to know the fulfillment of your tax obligations at the time it is consulted.
SAT blacklist: List published by the Tax Administration Service (SAT) where the taxpayers who have firm, enforceable, non-located, canceled tax debts or have a conviction for a tax crime, and who have had some tax credit forgiven, can be found.
ISR: The Income Tax is a direct tax that is paid on the profits obtained in an exercise, the rate in Mexico for legal entities (companies) is 30%, which is applied to the difference between income and deductions.
VAT: The Value Added Tax is an indirect tax that taxes the consumption of goods and services, with several exceptions. The rates of this tax in Mexico are 16%, 8% and 0%, as well as exempt activities.
It is important to know the main tax definitions when carrying out economic activities in Mexico, so we hope that this Tax Guide for taxes in Mexico will be useful to you.
If you are interested in investing in Mexico, we invite you to contact us.
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