On December 26, 2023, the Decree that reforms, adds and repeals various provisions of the Tax Code of Mexico City (CFCDMX) was published in the Official Gazette of Mexico City, which will come into force on December 1. January 2024.
This publication highlights the increase in quotas and amounts contained in the Code by 5.9%. There are no new taxes or increases in existing ones. Some inconsistencies persist regarding property acquisition tax and property tax, which could give rise to the interposition of constitutional and legal means of defense.
The topics that we consider most relevant are described below, although we recommend that the Decree be reviewed individually to be able to timely identify other aspects that are not discussed in this informative Flash.
Property acquisition tax
Reduction to successions by inheritance
A reduction equivalent to 50% of the tax on the acquisition of real estate will be applied only in the event that the acquisition is derived from a succession by inheritance, as long as any of the assumptions provided for in the third paragraph, of section I, of the article 115 of the same Code.
Property tax
