U.S.-Mexico Dual Taxation: Residency Rules, Filing Requirements, Planning Opportunities
Tax Treaty Provisions, Center of Vital Interest Standards, Fideicomisos and Structures for Owning Land in Restricted Zones
Note: CLE credit is not offered on this program
A live 110-minute CPE webinar with interactive Q&A
This webinar will provide tax advisers with a thorough and practical guide to the tax reporting requirements and planning opportunities for U.S. taxpayers with earnings or assets in Mexico, as well as Mexican citizens with U.S. tax presence and reporting obligations. The panel will discuss U.S. tax law and treaty provisions designed to avoid or mitigate dual taxation and will focus on the Mexican tax and other consequences for U.S. taxpayers who own or plan to invest in Mexico-situs real estate and other assets.
- Basics of Mexico income tax
- Mexico has global taxation of income from deemed Mexican tax residents
- Tax rates and treatment of earned income
- Dividend taxation
- Tax on capital gains
- Tax on gratuitous transfers between non-linear ascendants/descendants
- Mexican residence and sourcing rules and center of vital interest standards
- Ownership of Mexican real estate by non-Mexican citizens
- Restricted areas
- Fideicomisos: Mexican bank real estate trusts
- Creating a Mexican corporation to hold real property sitused in restricted areas
- Tax treaty provisions
- Coordinating Mexican tax compliance with U.S. income and information filings
- Mexican estate and trust transfers
- Filing and reporting requirements; deadlines
The panel will review these and other relevant topics:
- What are the standards for determining a taxpayer's "center of vital interest" for establishing tax residency?
- Differences in U.S. and Mexican treatment of dividends, capital gains and other unearned income
- What considerations impact U.S. taxpayers wishing to hold real estate in one of Mexico's "restricted zones"?
- Treatment of sale, gift or inheritance of Mexican-situs property
- Key risks and challenges of passive/unearned income in U.S.-Mexico cross-border situations
David A. Matos, Jr.
Founder and President
The Matos Group
Mr. Matos is a seasoned government relations professional with thirty years of experience in government and community... | Read More
Mr. Matos is a seasoned government relations professional with thirty years of experience in government and community affairs. He has an extensive public policy background having served as a senior legislative staff member and a key advisor on major New Jersey public policy issues with an emphasis on health care, transportation, telecommunications, homeland security and urban affairs. Mr. Matos' knowledge of the inner workings of the legislature and executive agencies, coupled with his vast network of resources and contacts, both in and outside of government, have made him one of the most sought after public affairs strategists in New Jersey. Among the major policy initiatives he has managed are the creation and renewal of the Transportation Trust Fund, the NJ Telecommunications Act of 1992, the Heath Care Reform Act of 1992, the Family Development Plan (welfare reform) and the ban on assault weapons. As chief of staff to the State Attorney General, Mr. Matos managed of one of the largest and most functionally diverse AG departments in the nation. Matos also served as chief of staff for the cabinet level Department of the Public Advocate, where he guided the agency to a record budget increase after two consecutive years of budget reductions and rumors of the department’s elimination.Close
Patrick J. McCormick, J.D., LL.M.
Drucker & Scaccetti
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting... | Read More
Mr. McCormick specializes in the areas of international taxation, tax compliance, and offshore reporting obligations. He published national articles and given numerous national and local presentations on assorted areas of tax and estate planning law, including international tax and offshore compliance issues. His latest article on PFICs is titled Tax Reporting Implications of Foreign Mutual Funds. He is licensed to practice in the States of New Jersey, Florida, and Georgia, and the Commonwealth of Pennsylvania.Close
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