Mexico Tax Setup

Mexico Tax Preferences (for Accounts without SuiteTax)

To set tax preferences, go to Setup > Accounting > Set Up Taxes. Use the following tax preferences for Mexico:

• Default Tax Code: S-MX

• Tax Code for Exports: ZX-MX

• Tax Code for Imports: Service Items: IS-MX

• Tax Code for Imports: Non-Service Items: IS-MX

• Tax Rounding Method: Round Off

• Tax Reporting Cash Basis: Check this box.

Mexico Tax Preferences (for Accounts with SuiteTax)

If SuiteTax is enabled in your account, use the following tax preferences for Mexico:

• Default Tax Codes:

  Go to Setup > Tax > Nexuses > Mexico Nexus > Default Tax Codes tab.

  Tax Transaction Type	Goods	Services
  Domestic Sales	MX_SR	MX_SR
  Domestic Purchases	MX_SR	MX_SR
  Exports	MX_ZR	MX_ZR
  Imports	—	—

• Tax Rounding Method: Round Off.

  Go to Setup > Tax > Nexuses > Mexico Nexus > Nexus Preferences tab > Tax Rounding Preferences.

To set up tax codes, see Mexico Tax Codes.

Related Topics

• Mexico Tax Topics
• Mexico Tax Codes

General Notices