Transfer money from Mexican bank to U.S. - View Single Post
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Old 28th June 2011, 08:35 PM
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AlanMexicali AlanMexicali is offline
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Users Flag! Originally from usa. Users Flag! Expat in mexico.
Default Capital gains in Mexico

Quote:
Originally Posted by Schmo View Post
Taxes, oh boy howdy. It depends on your status here. I'm here on a "No Inmigrante" as are many folks. That means when you sell you pay 25% on the sale price up to what you paid for it. If you make a profit it goes to 30% and that is of the total sales price not just on the profit. I'm getting ready to sell and have confirmed this with two different attorneys.
Can you please explain your situation better as to why you are paying 25% on the appraisal value of your house and not the profit as this would be capital gains taxes which is what I understand is due at the time of sale. To me what you stated doesn't make any sense. What type of property do you intend on selling?

Mexican taxes: here, there, taxes, everywhere : Mexico Living