Finance Division comment on US Tax Reform almost Approved

The US tax reform is practically approved and ready to go into effect in 2018. The main changes include:

a) Corporate rate in 21%.

b) Maximum individual rate of 37%.

c) Special tax on profits repatriated abroad to 15% in cash and 8% in other assets.

d) Deduction 20% on income for fiscally transparent companies in expenses that are not salaries or fees.

e) Exempt dividends from foreign subsidiaries and if minimum tax was paid abroad.

f) Measures to combat erosion of the tax base by international tax planning.

g) Deductibility of mortgage interests limited to acquisition and 750 thousand dollars.

h) State taxes deductible to 10 thousand dollars.

i) He finishes disappearing for not having medical insurance.

Some cuts are temporary between 8 and 10 years. 

In following days we will evaluate the impact on Mexico. But surely there will be pressures.

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