Friday April 19, 2024
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1.8.5 Mexico
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Mexico
Trusts: Trustees must withhold 30% of the taxable amount paid from a U.S. non-grantor trust to a nonresident alien who is a resident of Mexico.
CGAs: Charities are not required to withhold any amount of tax from charitable gift annuity payments.
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Gifts made to U.S. charities by citizens or residents of Mexico without U.S. source income are not deductible against Mexican income taxes. However, gifts made to Mexican charities by citizens or residents of the U.S. may be deductible. To take a deduction, the gifts must be made to Mexican charities that meet tests that are essentially the same as the tests that qualify U.S. organizations to receive deductible contributions. In addition, to take the deduction, the donor must have Mexican source income. Pub. 526.
Trusts
Trustees must withhold 30% of the taxable amount paid from a U.S. non-grantor trust to a nonresident alien who is a resident of Mexico. Sec. 1441(a)
CGAs
Charities are not required to withhold any amount of tax from charitable gift annuity payments. Pub. 515, Table 1.
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