Mexico

Country Information

Continent North America
GDP (2012 est.) $1.798 trillion (2012 est.)
Currency & Exchange Rate Mexican pesos (MXN) per US dollar 13.17
Dialling Code
+52

Exploration & Production Companies

Petróleos Mexicanos.

International Tax Regime

Residential taxation: foreigners taxed on local income; residents taxed on local and overseas income.

Witholding Tax

Crude oil - production(bbl/day) 2,936,000
Crude oil - exports(bbl/day) 1,460,000
Crude oil - imports(bbl/day) 0
Crude oil - proved reserves(bbl) 10,260,000,000
Refined petroleum products - production(bbl/day) 1,364,000
Refined petroleum products - consumption(bbl/day) 2,133,000
Natural gas - production(cu m) 53,960,000,000
Natural gas - proved reserves(cu m) 487,700,000,000

Income Tax Rates

Employment income tax is deducted at source by the employer. Income (MXN): Tax Rate %

  • 1 - 5,953: 1.92%
  • 5,954 - 50,525: 6.4%
  • 50,526 - 88,793: 10.88%
  • 88,794 - 103,218: 16%
  • 103,219 - 123,580: 17.92%
  • 123,581 - 249,243: 21.36 %
  • 249,244 - 342,842: 23.52 %
  • 342,843 and over: 30%

Oil fields greater than 1 billion barrels

Cantarell, Chicontepec.

Individuals Are Regarded as Tax Residents If

Home is there; if more than 50% of annual income is from there.

Social Security

Social security contributions are obligatory and are paid partly by the employer and partly by the employee. Contributions are levied on the employee’s gross remuneration and range up to 20.40% depending on the type of benefits that would be covered in accordance with the Social Security Law. Employees must contribute between 2.375% and 2.75%.

Climate

Varies from tropical to desert.

Location

North America, bordering the Caribbean Sea and the Gulf of Mexico, between Belize and the United States and bordering the North Pacific Ocean, between Guatemala and the United States.

CCL Country Manager

Contact Details


 

Name:

Direct:

Email:

LinkedIn:

Chris Maltby

+1 713 425 6304

chris.maltby@cclglobal.com

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