Tijuana, September 18. The withholding tax rate for savers in Mexico will increase tenfold in 2024 compared to the current year: from 0.15 percent to 1.48 percent, warned tax expert Adolfo Solís Farías.
In the 2024 Federal Revenue Law, the government proposed increasing the withholding rate for investments. That is, all those who want to save would pay more (as is the case with banks) compared to the withholding rate in 2023.
The expert said the government punishes people who try to save, one of the measures that undermines income growth and reproduction in Mexico, especially for those with fewer resources.
He explained that savings of 8,000 pesos now entail a withholding of 12 pesos, while in 2024 it will be 118 pesos; for a saver with a savings of 100,000 pesos, the withholding will be more than 1,000 pesos, compared to 150.
