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Mexico

Get familiar with payroll quotes in Mexico by applying a payroll income tax calculator widget.

Employing a talent abroad requires a sustainable financial approach on taxes and compensation points in the desired country. Before you start studying the situation there, it is highly advisable to get familiar with payroll data on it. take a look at the paycheck quotes about the total cost of an employee in Mexico simply choosing it from the list in a Widget.

Mexico: quick review Mexico is a North American country washed by the Pacific Ocean on the West and the Gulf of Mexico and the Caribbean Sea on the East. With almost 2 million square kilometers of the ground, Mexico has 9330 km of coastline. The official country name is the United Mexican States, it is a promising land with huge economic potential and productive labor force.

Mexico is represented before International bodies by the Federal Government, which has three inclusive branches: legislative, executive and judicial powers. The executive functions are delegated to a president and his Cabinet. Mexico is a participant of multiple international organizations, including the Organization for Economic Co-operation and Development (OECD), the Asia Pacific Economic Cooperation (APEC) forum, and the Rio Group. It has developed a diplomatic relationship with 176 countries. Moreover, the Mexican Government became first to ratify the United States-Mexico-Canada Agreement (USMCA), or NAFTA 2.0. The document is aimed to better regulate the automotive industry, labor and environmental standards, intellectual property security, and digital trading.

The Mexican economy has demonstrated solid stability during recent years; however, strongly affected by the 2008 recession. It is a highly urbanized (79.3%) country with the developed industry across many fields. As for 2016, 15 Mexican companies listed as world largest in the Forbes Global 2000 index.

The population of Mexico is 132,54 million people (2019), or 1.72% of the world’s inhabitants. The middle age of Mexicans is 28 years. Alongside the labor force participation of 60.5%, Mexico has a low (3.6%) unemployment rate and near 55 million employed persons. As for 2018, the annual GDP of the Mexican economy valued US$1,224 trillion. Use the ultimate online salary calculator to carry out detailed payroll data on the desired candidate in this country.

Types of employment

  • Fixed-term contracting;
  • Definite term contracting;
  • Casual employment;
  • Seasonal employment.

Tax requirements  

  • VAT: 16% (0% - in a special case);
  • Corporate tax: 30%;
  • Personal income tax: from 1.92% to 35% (15% to 30% - for nonresidents);
  • Employment 19.6% to 34.1% 

Taking advantage of the GPC tool as an online paycheck calculator, means you get a brisk and comprehensive insight on a pile of geolocations, including gross salary data for over 190 countries. Categorize the search with sophisticated parameters, such as the required period and salary, to get well-bred results. Proficient payroll calculator will eliminate the need to tap into the targeted market for getting immediate and worthwhile data on employee/employer tax withholding. Furthermore, request professional assistance across the Mexican labor market from Acumen International global employment solutions provider. 

Estimate the cost of hiring and payrolling your global workforce for free within seven days period by using advanced Global Payroll Tax Calculator. (Registration required).

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