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Budget for 2014 – submitted to Congress

|Proposed Changes|Mexico
Mexico

On 8 September 2013, the President submitted to the Congress the Budget for 2014, which includes a comprehensive tax reform package.

The main tax proposals are as follows:

Income tax

-   The maximum tax rate for individuals where the annual income exceeds MXN 500,000 (USD 38,400) would be 32%.
-   New restrictions on deductib…

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