Luxury vehicles will have a new tax that will be charged on the value after VAT, for all recent model cars that exceed the cost of 450 thousand pesos.
This was announced by the Secretary of Finance, Héctor Salgado Banda, who announced that with this adjustment they hope to collect 3.5 billion additional pesos in 2025 and emphasized that it is not onerous nor applicable to all citizens.
Governor Libia Dennise García herself suggested it when delivering the 2025 tax package: “minimal adjustments to the entity’s tax regulations are proposed, which will allow us to have higher income without affecting the population with fewer resources and without compromising economic development, since the implementation of these reforms will be gradual,” said Governor Libia García Muchos Ledo about these new adjustments.
In 2025 the exemption amount will be 450 thousand pesos
Héctor Salgado Banda explained that in 2025 the exemption amount will be 450 thousand pesos, and once VAT is added, the tax calculation would begin from an invoice value greater than 522 thousand pesos.
Each year this exemption will decrease by 50 thousand pesos, until 2029, when the exempt amount will only be 250 thousand pesos. That is, starting in 2025, the amount of the value of the vehicle on which the tax will be paid will increase annually.
The charge is applied to the excess amount obtained between the value of the vehicle and the exemption amount; that is, it is not on the total value of the unit and only applies to vehicles whose model is from the last 10 recent years (2025-2016).
Vehicles with an invoice value equal to or less than 522 thousand pesos do not pay tax, even if they are model year (2016 – 2025).
The Secretary of Finance compared that a vehicle with an invoice value of 530 thousand pesos would pay 63 pesos.
For the collection of tax on luxury cars, 3 percent is charged when they cost up to 450 thousand pesos; 4 percent when the cost is between 450 and 900 thousand pesos; 5 percent when the cost is up to 1 million 350 thousand pesos and 6 percent when it is more than the previous amount.
Source: periodicocorreo
