Tax Around the World: Mexico January 10, 2006
Like its neighber USA, Mexico has a progressive income tax system. However, there are no state or local income taxes. The progressive rate of the personal income tax varies from 3% to 35%, according to the tax bracket.
2003 Mexico Federal Tax Brackets
| Marginal Rate (Mexican Peso (MXN)) | Individual Income |
| 3% | 0 - 1389 |
| 10% | 1,389 - 11,792 |
| 17% | 11,792 - 20,723 |
| 25% | 20,723 - 24,090 |
| 32% | 24,090 - 28,842 |
| 33% | 28,842 - 58,170 |
| 34% | 58,170 - 91,683 |
| 35% | 91,683 and over |
(n.b.: as of 1/10/06, US$1 = 10.5185 MXN)
Source:
The Federation of International Trade Associations
- Posted in : Tax Brackets Around the World
- Author : Kyle
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