Responding to a Post on FB About RFCs and Taxes
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- Опубліковано 12 вер 2024
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Boost Your Spanish ua-cam.com/video/Nzc1oRSAPQ0/v-deo.html
INM should issue an RFC for any new residents going forward...seems that would save everyone a lot of time...thx for the vid as always great stuff!
INM and SAT are two different government entities. In the USA would you expect the dept of licensing to give you a social security number? Or Social Services to issue a passport?
@@bjones9942 passport is a different scenario, but to issue an RFC number should be worked in with the system...it's to their advantage to do it that way, then everyone will have one....why you have to compare the USA? Is that the only other country that exists?
@@TylerTheCompiler Hey Brett. Do you know of a country that combines these actions? If so, please name it to suggest the easier method - it could be helpful. Thanks!
@Belltown Daisy unnecessary hoops....Do not forget that whether you have a visa or legal residence, you still a guest in my country, not necessarily welcomed.... about time you white wonder bread people realize you're not here to dictate policy nor conditions and if you don't like it, keep it to yourself or get the hell out!
@@RetiredLifeinMexicoNOBULL Actually they asked me already in Sep 21 when showing up at INM for my RT the first time and they applied for my CURP immediately if I want an RFC too. My question in return had been „Do I need one? For what?“ didn’t get an answer so I denied 🙄 not knowing what would be the consequences as Paul‘s video about this issue came out later only as far as I remember…
Just last week I got my RFC in Oaxaca. Here are my highlights: Have been here since Feb 2022 with a temporary resident card; opened a bank account with Banco Azteca this past July and used the opening of that account for my “prueba de domicilio.” I got the appointment online via the SAT portal; once there they had me electronically fill out a form with home address, zip code, etc. The staff was very helpful. At least 4 people asked me why I wanted an RFC because I don’t have a job in Mexico. My reply was that I need it to buy a car, house, and so forth. I was in and out in 45 minutes, and the office was churning through customers. If you’re going to do this make sure you have proper documentation, and even then expect the process to be “consistently inconsistent,” as Paul eloquently puts it.
June 22-2022, muchas gracias por compartir tú sabiduria con nosotros.
Gracias por ver mis videos. Un saludo.
Thanks again for sharing your time with us
2 Canadians living in Mexico Yucatan peninsula sending you support cheers J&D ✌️🇨🇦🇲🇽🥰
Hi Guys. I just subscribed to your channel.
I just recently received my RFC. My attorney was the one that helped me through the entire process. Paul you definitely are right it’s imperative to get one in order to buy a car etc. The cable company even kept bugging me about updating my RFC.
This is why - "Cash is King" : ) Yes, all governments around the world trying to use more and more processes to track / control people. Even digital currency under more and more observation.
I appreciate that you get right to the point. Your videos are very informative and helpful
Good clip,thanks for information RFC I presume is a number.
It is an alphanumeric tax identifier similar to this: HEGJ820506M10
May be worth emphasizing that the RFC tax withholding issue is for people who SELL on Mercado Libre---not buyers.
So far ML demands only the CURP of buyers, not their RFC.
Yes, just the sellers.
Just a head’s up. Those with only an FMM can obtain an RFC. This would primarily be for foreign non-resident landlords. Huge difference in the taxes withheld (including AirBnB) having an RFC since landlords can then be assigned to much lower rate tax regimes. At SAT webpage, just click the tab at top for “foreign residents” (Residentes en el extranjero) then “Trámites del RFC” then “Inscriptión al RFC” then “Inscríbete en el RFC como persona física si eres extranjero”. You will see on the right, under “Preguntas frecuentes” the question “¿Puedo inscribirme con la forma migratoria múltiple?”. the answer from SAT is “Sí, acompañada del pasaporte vigente”. As I mentioned, this would likely only be of use for foreign landlords.
Do I need to get microchipped at my consulate in San Antonio or can I wait until I get to Quintana Roo?
Either location. ;)
I believe this is an issue for Airbnb and vrbo rentals as well. Vrbo and airbnb are now withholding 20% for income taxes, and remitting to SAT on our behalf. I'm not a resident, so can't get an RFC. I'm looking into residency to see if the numbers work out better.
Here's an uncommon aspect of these laws: CFE owes me money because I produce more electricity than I use. They will only pay me if I have an RFC. It's a small amount, so not worth the trouble on its own. It's great living in the Cancun Hotel Zone with no electric bill, btw. Solar panel pay for themselves in 3 years.
@Belltown Daisy My understanding is that you pay Mexican income taxes on rental income, then you can include those paid taxes on a Foreign Tax Credit (Form 1116), thus avoiding double taxation. If you tell Airbnb and Vrbo what your RFC is, they will charge a much lower tax rate, and you have the opportunity to deduct expenses on the rental real estate.
@@HarshColby who installed your solar panels?
This is a little misleading. Because although Mercado Libre or any other online company (like amazon, airbnb, etc.) is only withholding 8% IVA and a lesser percentage ISR, it does not mean that that is the taxes that you owe. That is only the withholding. You are still responsible to submit the other 8% IVA less any deductions you may claim. Your income taxes will be determined based on your income. So even though they are only withholding 1% your income may put you in a 35% tax bracket (which is higher than the 20% they were withholding for non-RFC people). So it's a little more complicated than you are making it sound in this video. No disputing that you should have your RFC, but it needs to be more clear that it is not a gigantic tax savings (except in the case of the capital gains exemption.)
most countries I have been to allow foreigners to start a corp. to do biz thru
Thank you very much for all of your UA-cam post. You are so right about “ the experts” saying you don’t meed this or that. My dilemma is that one says I don’t have to pay taxes on my stock capital gains from the U.S. while another one says I do. I am confused when I get when the experts contradict one another. I am retired and this year I will make around $1000 USD on my US capital gains. Though I do not work do I have to pay Mx taxes on this? Thanks.
Thanks, Paul
As always, just great info!
Thanks again!
Sounds like you should go ahead and get that RFC out the gate if you are going for residency or citizenship otherwise you'll have an RFC life(Really Freaking "Caro") 🤷🏻♂️
Of course I love all of your vidios that I have seen...but one I seem to be missing is how to change your address on your RFC...I tried to do it online but it would not accept my RFC# telling me it had to be 12 digits...Then it coud not accept my password either ...no reason and when I checked I forgot it...nothing happened...NOW...How do I get an appointment to change my addrdess?? And I have an INSEN card showing I am of the third age...or OLD...will that get me a walk in? Thank yu in advance!
Hi Paul, i have been trying to find a tutorial that shows how to use the SAT website to file Mexican taxes. I am a Canadian that has permanent residency and have some Mexican interest income. I tried using the SAT website to understand how to use it to file taxes and I was not very successful. Any suggestions?
It will be nice to have a video on the back side of getting an RFC. What exactly does it mean when it comes to dealing with the Mexican government and what quarterly or annual paperwork does the US resident have to complete? I wonder if the Mexican government will force US residents in Mexico to pay taxes on the US income! It could be RFC first to get you in the system and then the second law... give us your US money.
So far, it has not triggered any tax liabilities to have an RFC; however, who knows what the future holds. I suppose if that day comes along, you will see folks jumping to a new destination. In that case, Linda would like us to become Two Expats Italy...lol.
Getting the gringos to obtain an RFC is step one. Step two is probably making them pay as why would the Mexican government make such an effort to get everybody numbered? I would suggest if you don't want to get one to have a Mexican friend make any large purchases in their name, or set up a Mexican corporation and have it buy whatever substantial you want.
@@allanzfs This is the same as collecting other personal data like fingerprints and retinal scans for the permit.
@@allanzfs - The US is one of the very few countries that taxes on income earned outside the country. Why would you assume Mexico is going to do this?
Mexican citizens do not have to file tax returns in Mexico, so residents would not either. There is some taxes to be paid, for example, when selling a property. But in general, there is no Tex filing, like in the USA
I am a Mexican and American citizen but do not own a home in Mexico, yet. I have a SAT appointment coming up soon in Irapuato (in la fila virtual) and I keep hearing that I need a proof of residence...so can I even successfully receive a RFC without that? If so, what documents would I need to take?
It depends on the office. Some will take your word for it and some require a CFE bill. Many people use a friend's or relative's.
Easy way? We can't even get one at the moment. How is someone supposed to have gainful employment, or do business if one cannot even get an RFC?
There is certainly a lot of room for improvement. ;)
I’m married to a Mexican citizen and we bought a house in chapala lake. We were trying to sale but she’s need a RFC., question should I become a Mexican citizen and do I qualify?
I live in Oaxaca and applied for an RFC on April 20 when I saw your other video. I’m still in a Turno Fila Virtual. Would you know if there is a way to see what is my place in the fila virtual?
I made a video on how to check: ua-cam.com/video/JlXXOiVNrHM/v-deo.html
Can you please post a link to a Mexican (SAT) document explaining the “generic RFC” number? I visit Mexico on a FMM and I’m trying to sell one of the properties I own. I’m at a stumbling block as the real estate lawyer won’t accept the generic number I tried using. I appreciate any information you can provide.
Ken R.
The problem is that is getting more and more difficult to use the generic RFCs in Mexico. This seems to be especially true when it comes to real estate; however, if you don't have residency, it is your only option. You may want to get a new real estate lawyer who is aware of that fact. The generic for transactions to clients outside Mexico is XEXX010101000. The other option is XAXX010101000 for national sales. Since you are in Mexico, they could go with the latter. Again, you probably need to find another real estate lawyer if you do not have residency.
Generic RFC is for a client, not one doing business, selling, or employed. You will have to get an RFC
The RFC is only helpful when selling a house for the tax credit. Since you didn't live in the house continuously you don't qualify.
@@qroo We actually reside in the U.S. We have a Villa that we use to get away to. I bought a second property with the intent of building a shop on, but have since, decided against it. The buyers are anxious to close. If I could find the source of the RFC XEXX010101000, I should be able to convince the lawyer that it is legitimate.
Thanks, Ken R.
Mexican citizens do not have to file tax returns in Mexico
Hmm 🤔... sounds like it's time to find a new lawyer, eh?😉
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