Mexico Simplifying Tax Compliance, Study Says Mike Godfrey - Tax-News.com
go to original November 26, 2014

Mexico has climbed 13 places in an annual study that ranks jurisdictions according to the ease of paying taxes.

In the Paying Taxes 2015 report, published by the World Bank Group and PwC, Mexico ranked 105th out of 189 countries, up from 118th place in last year's report.

The report looks at the time required for a medium-sized company to prepare, file, and pay its taxes, the number of taxes that it has to pay, ease of payment, and the total tax liability as a percentage of its commercial profits.

The report found that, on average, it takes companies in Mexico 334 hours to comply with taxes each year. This compares with an average of 213 hours for North America. In Mexico, compliance with the corporate income tax regime takes 170 hours, while labor tax compliance takes 64 hours, the report said.

On average Mexican companies have to make six tax payments per year, compared with an average of 8.2 payments for North America, the report showed.

Mexican companies face a total tax rate of 51.8 percent, compared to the 38.9 percent average for North American countries, according to the report.

See the original at Tax-News.com

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