Do I have to pay taxes to the SAT, if I receive an inheritance?

Without a doubt, receiving an inheritance is usually good news, once assets are obtained after the death of an acquaintance or relative. However, there are many people who, fearing the SAT tax burdenThey do not use the inherited assets. Therefore, this time we tell you if it is paid Inheritance taxes in Mexico.

As we have mentioned in other informative notes of The Truth Newsan inheritance is defined as the assets, rights and/or obligations that a person acquires upon the death of the person who was the owner.

According to article 1281 of the Federal Civil Code, “inheritance is the succession in all estate of the deceased and in rights and obligations that are not extinguished by death”.

Likewise, article 1284 of the same code states that the heir acquires universally and is responsible for the Inheritance charges up to the amount of the assets who inherits

In addition, he points out that the general rule is that anyone can be beneficiary of that processregardless of age and cannot be deprived of it.

Do you pay inheritance taxes in Mexico?

In accordance with the provisions, income from donations, inheritance or legacy that does not exceed the total value of 10 million pesos is exempt from paying ISR. This includes real estate, jewelry, stocks, or bank accounts.

Although this is not taxed, it is important to notify the Tax Administration Service (SAT).

If the inheritance is greater than 10 million pesos, the excess amount will be accumulated to the other cumulative income that the taxpayer receives in the year and from it if it is necessary to pay taxes.

The tax upon payment, according to the Deloitte consultancy, is calculated by applying a base rate of 10% to the excess amount. An extra rate of 20% will also be applied, although this is only for when the total value of the income exceeds $50,000,001.00 up to $100,000,000.99.”

On the other hand, an extra rate of 30% can be applied when the total value of the income exceeds $100,000,001.00 and thereafter.

If your client receives other types of objects, you should consider the following:

extensive income tax: refers to the tax when renting a property, but those who are beneficiaries of the same are exempt from ISR.

Domain transfer tax: When there is a change of owner, the corresponding payments will have to be made. In this case, a percentage of the value of the property is charged, which varies according to the municipality.

Term to write it: in this case, a payment will only have to be made when the procedure is not completed on the previously agreed date.

State contribution: Although it is not a tax, at the time of registration, an amount for those rights is given to the municipality.

It is important that you comply with your tax obligations to be a regular taxpayer and not have problems later.

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