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Mexico Hungary DTA Entry into ForceDecember 2011 The double tax treaty between the two countries will enter into force on December 31, 2011. According to the DTA the withholding tax rates for interest and royalties are 10%. The withholding tax rate for dividend is generally 15% , or 5% when the recipient is a company holding 10% or more of the paying company's share capital. The DTA will apply from January 1, 2012. Mexico Extends Export Tax BreaksOctober 2011 The Mexican president signed on October 11 a decree extending certain tax breaks granted to export manufacturing plants, Maquiladoras. The tax breaks are extended till December 31, 2013. Mexico Singapore Double Taxation TreatyOctober 2009 Mexico and Singapore signed on September 29, 2009 a new protocol amending the existing tax treaty between the two countries. The new agreement incorporates international standards for exchange of information between both countries. The protocol will enter into force after ratification procedures in both countries. Mexico Proposed Tax Reform 2010September 2009 The Mexican 2010 economic bill presented on September 10, 2009 includes some significant tax changes. According to the bill the corporate income tax rate and the top marginal tax rate for individuals, currently 28%, would rise to 30% in the years 2010-2012. The 30% rate would decrease to 29% in 2013 and 28% in 2014. In addition , a new 2% tax , similar to V.A.T. would be imposed on all businesses to decrease poverty. Mexico CPA's, Accountants, Accounting Firms | Mexico Business Opportunities and B2B Marketplace |
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