Prizes derived from the holding of lotteries, raffles, draws or games with bets and contests
Business Activities
Interest or credit returns of any kind
Within 'business activities', commercial, industrial, agricultural, livestock, fishing or forestry functions (related to forestry and wood work) are considered.
Tip : If you want to know more exactly albania phone data if any activity you do must pay ISR , in addition to the LISR that we already shared with you, you can review this SAT page where each category is detailed.
What income does not pay ISR?
Article 93 of the Income Tax Law establishes that tax is not paid on these incomes:
Benefits other than salary received by workers receiving the general minimum wage.
Compensation for occupational hazards or illness.
Retirements, pensions, retirement benefits and other forms of retirement.
Reimbursement of medical, dental, hospital and funeral expenses.
Social security benefits provided by public institutions.
Disability benefits, educational scholarships, child care, cultural and sports activities.
Contributions and income from the housing sub-account provided for in the Social Security Law.
Employee savings accounts and savings funds established by companies.
Social security contributions of workers paid by employers.
Seniority bonuses, retirement and compensation or other payments.
Gratuities that workers receive from their employers.
Remuneration for subordinate personal services received by foreigners.
Travel expenses declared in the employer's service.
Lease contracts extended by law.
Alienation of the taxpayer's home and personal property.
Credit and financial interests.
The amounts paid by insurance institutions to the insured.
Inheritances or legacies.
Donations (in certain cases).
Prizes obtained in a scientific, artistic or literary competition.
Compensation for damages not exceeding the market value of the asset in question.
Income received in the form of maintenance by maintenance creditors.
Withdrawals made from the retirement, retirement at advanced age and old age subaccount under the terms of the Social Security Law.
Alienation of land rights.
Income from allowing third parties to publish written works of their creation or to reproduce recordings of musical works.
How much is paid in ISR? Percentage of ISR for individuals and corporations
Percentage of ISR for individuals
The percentage of ISR to be paid in Mexico for individuals depends on rates ranging from 1.92 to 35% on gross income, depending on the current rates, which are available in the tables found in the RMF 2024.
Percentage of ISR for legal entities
In the case of legal entities, the percentage of ISR to be paid is 30% , applied to the taxable result obtained in the year, as indicated in the LISR.
In both cases, authorized deductions can be applied to the total annual amount that causes ISR according to the type of person in order to reduce the total to be paid on gross income.
So, to answer the question how much is paid in ISR?, the answer is: it depends on the gross income in the case of individuals and a fixed amount for corporations.
Entrepreneur researching what ISR is and calculating how much to pay in ISR.
What are the deductions authorized by the Income Tax Law?
The ISR deductions contemplated in the Law are divided into 2 categories:
Authorized deductions
Personal deductions for individuals
Let's now see what each of these groups includes.
1. Authorized ISR deductions
Refunds received or discounts or bonuses made during the fiscal period.
The cost of goods sold.
Net expenses from discounts, bonuses or returns.
Investments.
Bad debts and losses due to unforeseen events, force majeure or the sale of assets.
Contributions paid by employers to the Mexican Social Security Institute.
Accrued interest charged during the year, without any adjustment.
The deductible annual inflation adjustment.
Advances and returns paid by production cooperative societies.
Contributions made to create or increase reserves for staff pension or retirement funds.