A Discussion with Mexico's Top Tax Auditors and the International Real Estate Industry October 20, 2007 Course Number 1 IVAN BAUTISTA OSUNA, CPA & T.M. GILBERTO CARRASCO RODRIGUEZ, CPA. MAIN FEDERAL TAXES. INCOME TAX (ISR) INCOMES AND PROFITS TAXABLES 28 % RATE.
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Top Tax Auditors and the International
Real Estate Industry
October 20, 2007
Course Number 1
IVAN BAUTISTA OSUNA, CPA & T.M.
GILBERTO CARRASCO RODRIGUEZ, CPA
PRESENT TAX RETURNS
DO THE BOOKKEPING
AUDIT FINANCIAL STATEMENTS
PRESENT NOTICES TO THE FEDERAL TAXPAYERS REGISTRY
MAKE AND COLLECT FACTURAS (OFFICAL INVOICES)
EN LA PAZ, B.C.S.
TAXPAYERS WITH INCOMES OVER $500 MILLONS PESOS.
SUB-ADMINISTRATION IN CABO SAN LUCAS, B.C.S.
STOCK ALIENATION OF RESIDENTS ABROAD
B.C.S. FEDERAL FISCAL
FISCAL AUDIT DEPARTMENT
MANAGEMENT IN LOS CABOS
FISCAL AUDIT OFFICE
WHEN THE TAXPAYER CONSIDER THAT SOME ACT OR RESOLUTION OF THE FISCAL AUTHORITIES WERE NOT MADE ACCORDING WITH THE LAW, YOU CAN INTERPOSE THE DEFENSE ACTS, WICH ARE:
THE PORPUSE IS:
THOSE OBLIGATED TO PAY THIS TAX ARE THE ONES THAT ACQUIRE A REAL STATE (LAND AND CONSTRUCTION) AND RIGHTS RELATED WITH THE SAME ONES (TRUSTS) IN THIS MUNICIPALITY, TO THE 2% RATE UNDER THE HIGHEST VALUE BETWEEN DE OPERATION PRICE, CADASTRAL OR FISCAL VALUE OR EXPERT COMMERCIAL APPRAISAL.
OPERATION VALUE $ 1,000,000.00
ISABI RATE 2.00%
ISABI TO PAY $ 20,000.00
THIS TAX IS THE NOTARY’S OBLIGATION TO CALCULATE IT AND PAY IN THE MUNICIPAL INCOMES OFFICE.
IT TAXES THE PERMANENT REAL STATE AND CONSTRUCTIONS PROPERTY INCLUDING THE ONES SUBJECT TO A TRUST, EXISTING IN LOS CABOS AND ALL THE MUNICIPALITIES IN B.C.S., THE BASE TO BE CONSIDERED IS THE CADASTRAL VALUE AND THEY ARE DIFFERENT CLASSIFICATIONS THEREFORE DIFFERENT RATES:
THE PROPERTY AND COMMERCE PUBLIC REGISTRY, WILL CAUSE THE RIGHTS PAYMENTS FOR EVERY TRANSACTION MADE BEFORE THIS UNIT, CALCULATING THE CORRESPONDING RIGHT AS FOLLOWS:
DOCUMENTS EXAMINATION 4 DAYS OF SALARY
FOR REGISTRATION MINIMUM ( $ 202.28 PESOS)
INSCRIPTION OR REGISTRATION
OF PRIVATE OR PUBLIC DOCUMENTS
FIXED QUOTA 5 DAYS OF SALARY
FOR ITS INSCRIPTION MINIMUM ( $ 252.85 PESOS)
OPERATION VALUE RATE 2.5 PER THOUSAND (0.25%)
ADDITIONAL TAX 30 % OVER RIGHTS AMOUNT
CHARTER INCORPORATION AND BYLAWS INSCRIPTION OF A S. DE R. L. DE C. V. WITH A EQUITY OF $ 3,000.00 PESOS
DOCUMENTS EXAM: $ 202.28
FIXED QUOTA $ 252.85
RATE OVER VALUE ($ 3,000.00 X 0.25% ) $ 7.50
RIGHTS TOTAL $ 462.63
30 % ADDITIONAL TAX $ 138.79
TOTAL TO PAY $ 601.42
TO BUILD, REBUILD, EXPAND OR REBUILD FARMS, AS WELL TO DEVELOP PROPERTIES LOCATED IN LOS CABOS, IS REQUIRED TO OBTAIN A CORRESPONDING CONSTRUCTION LICENSE, WHICH CAUSES AN EQUIVALENT RIGHT OF 7 PER THOUSAND (0.70%) ON THE CONSTRUCTION VALUE PLUS THE RESPECTIVE 30% OF THE ADDITIONAL TAX, ACCORDING TO THE PRICE OF THE WORKS TO BE CARRIED OUT. THE PAYMENT WILL BE DONE WHEN THE PLANS THE WORK SHOULD BE SUBJECT TO, HAVE BEEN APPROVED.
WORK PRICE $ 15,000,000.00
RIGHT RATE 0.70 %
CONSTRUCTION LICENSE RIGHT $ 105,000.00
30 % ADDITIONAL TAX $ 31,500.00
TOTAL TO PAY $ 136,500.00
The payment. It must be on national currency
If its paid in national territory. Abroad it can be paid
With the currency of the place of payment.
Ways to extinguish
The tax obligations
Remission. It can be particular or general. The first
Is requested by the party, the second one it operates
automatically (arts. 39 and 74 of CFF).
The pre-inscription. Is set within five years, as long
as there are no mediated written management for
collection or explicit or tacit recognition of credit.
The federal authority has published that the tax evasion estimated to a national level in México in a global way is of 27.8%, though in the case of an individual with management activity is estimated that increases to 90.59% (Source. ITAM) At a state level, at the moment both local authorities, federal and state (Fiscal audit local administration and Fiscal audit office) have coordinated with the support of researches of the UNIVERSIDAD AUTONOMA DE BAJA CALIFORNIA SUR (through its interdisciplinary Research and Postgrado centers), to carry out a study about the Tax evasion in Baja California Sur.
The authorities recently in April 2007, informed they concluded the diagnosis stage detecting five activities with a high rate of evasion, being as follows:
It has been detected that these activities are made for entities, individuals and mostly residents abroad with wealth sources located in national territory, mostly in Los Cabos municipality.
The study is estimated to be conclude next year 2008, and will have proposals to modify the laws, regulations and federal and state codes, which means, suggesting the repeal or modification of the articles that makes easier the fiscal evasion at the moment, meaning, and it will also looks to expand the verification faculties to the authority for the fiscal action, as the estimated income omitted.