INSIDE LAKESIDE
Log In or Register

Check your spam/junk folder for activation e-mail after you register.

tax on buying a house?

View previous topic View next topic Go down

tax on buying a house?

Post by Andreana on Sat Jul 09, 2016 8:25 pm

Is it right that I have to pay 16% tax when I buy a house? I have the permanent status and I already invest some money in Mexico,

Andreana
Senior member
Senior member

Posts : 46
Join date : 2015-01-28
Location : Ajijic West
Humor : dry

Back to top Go down

Re: tax on buying a house?

Post by slainte39 on Sat Jul 09, 2016 10:25 pm

Andreana wrote:Is it right that I have to pay 16% tax when I buy a house? I have the permanent status and I already invest some money in Mexico,

Do you mean IVA on the sale price of the property?......NO!
Closing costs, which includes other forms of government taxation and fees.......YES
Check with your real estate agent and you get to choose the Notario Publico.
Get an estimate of the closing costs.
Seller pays real estate commission, which will include IVA on the commission (if done legally for tax purposes).

slainte39
Share Holder
Share Holder

Posts : 6691
Join date : 2010-07-22

Back to top Go down

Re: tax on buying a house?

Post by Andreana on Sat Jul 09, 2016 10:31 pm

Thanks for your reply.
Great, so I calm down, because somebody told me as a Gringa I have to pay an additional 16% on the sale.

Andreana
Senior member
Senior member

Posts : 46
Join date : 2015-01-28
Location : Ajijic West
Humor : dry

Back to top Go down

Re: tax on buying a house?

Post by slainte39 on Sat Jul 09, 2016 10:45 pm

Andreana wrote:Thanks for your reply.
Great, so I calm down, because somebody told me as a Gringa I have to pay an additional 16% on the sale.

The sale will have to be consummated through a N.P. and he will advise you of the breakdown of the closing costs.
Don't hand over 16% above negotiated price to anyone claiming you owe a tax, except what the Notario tells you.

slainte39
Share Holder
Share Holder

Posts : 6691
Join date : 2010-07-22

Back to top Go down

Re: tax on buying a house?

Post by Intercasa on Sun Jul 10, 2016 11:32 am

Not true, no difference between foreigners and nationals with respect to real estate as far as IVA tax goes. If this is a time share it could be a scam, many, many out there and fake escrow companies.

IVA is only generated on a sale transaction when it is commercial property. You should have a competent bilingual licensed attorney (I am one) review the paperwork to make sure you arent being scammed.
avatar
Intercasa
Share Holder
Share Holder

Posts : 2745
Join date : 2010-04-05
Age : 47
Location : Chapala / Zapopan
Humor : Barbed wit

Back to top Go down

Re: tax on buying a house?

Post by slainte39 on Sun Jul 10, 2016 11:49 am

What are you saying "not true" to, the OP or the subsequent posts?

Also, isn't the IVA only applicable on the sale of a commercial "business", but not on the real estate housing the business, if that is sold/purchased independently of the "business"?

slainte39
Share Holder
Share Holder

Posts : 6691
Join date : 2010-07-22

Back to top Go down

Re: tax on buying a house?

Post by Intercasa on Sun Jul 10, 2016 6:10 pm

Not true to a different treatment for foreigners and nationals for IVA sales tax, thought I made it clear
avatar
Intercasa
Share Holder
Share Holder

Posts : 2745
Join date : 2010-04-05
Age : 47
Location : Chapala / Zapopan
Humor : Barbed wit

Back to top Go down

Re: tax on buying a house?

Post by Andreana on Sun Jul 10, 2016 6:13 pm

ok thanks, as soon as I get all questions anwered by the constructor (it will be a direct sale without Real Estate) I will make an appointment in your office.

Andreana
Senior member
Senior member

Posts : 46
Join date : 2015-01-28
Location : Ajijic West
Humor : dry

Back to top Go down

Re: tax on buying a house?

Post by Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum