Mexico Tax Codes (Mexico Compliance SuiteApp)

Tax codes determine how much tax is paid on each transaction line item. Make sure that the properties and rates of your tax codes are correct.

Note:

The tax code properties required for Mexico tax codes are provided by the International Tax Reports SuiteApp.

For more information on tax codes, see Tax Code Properties and Creating Tax Codes.

Tax Code Table for Mexico

Note:

The tax code properties required for Mexico tax codes are provided by the International Tax Reports SuiteApp.

The following table shows the tax properties required to generate the Mexico DIOT File (Mexico Compliance SuiteApp). The tax code names or letters used in the following table are suggested names or default system preferences. You can rename the tax codes.

On the New Tax Code or Edit Tax Code page, check the boxes of the properties that apply to the tax code. To understand how NetSuite uses the tax codes to get the values for DIOT reporting, see Tax Code Mapping for Mexico DIOT File (Mexico Compliance SuiteApp).

Important:

Please consult your tax agency for the correct tax rates.

Tax Code	Description	Rate	Property	Tax Type	Purchase Tax Account	Sales Tax Account	Available On
S-MX	Standard default tax rate for sales and purchases of goods and services traded/provided in Mexico, except for the bordering region	16%	Default Code	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
R-MX	Reduced tax rate for sales and purchases of goods and services traded/provided in Mexico for specific regions.	8%	Reduced Rate	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
Z-MX	Zero IVA rate for specifically defined goods and services	0%	Special Reduced Rate	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
E-MX	Transactions exempt of IVA	0%	Exempt	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
IS-MX	Standard IVA on import	16%	Import	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
IR-MX	Reduced IVA on import	11%	Import Reduced Rate	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
IZ-MX	Zero IVA rate on import	0%	Import Special Reduced Rate	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
IE-MX	IVA Exempt on import	0%	Import Exempt	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)
ZX-MX	Zero IVA rate for export transactions	0%	Export	VAT_MX	VAT on Purchases	VAT on Sales	Both (Sales and Purchases)

Tax Code Table for Mexico

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