Avoid taxes in Mexico will be harder

Because of the changes in Mexican tax law to foreigners has become more difficult to avoid paying high taxes on capital gains levied on the sale of property, which can reach 30% of the sale amount. Under the new rules, the owner of the house shall be exempt from tax on its sale, if he proves that the house was his primary residence for at least 5 years. According to the previous rules, the term was usually much less - one or two years - so foreign sellers often find a way to avoid tax payments. Mexican authorities for the first time focused on the enforcement of the law in this area, - said Linda Neil, spokeswoman Settlement Company of Baja California. "Foreigners who buy here at home for the purpose of renting or periodic rest, no longer be able to rely on an exemption from the tax," - said Neil. In recent years, often changed exemption regulations from the tax on capital gains, but the law has never become so tough, - said Ra