OrbitaxThe corporate income tax rate is reduced to 30% in 2005. The rate will be 29% for 2006 and 28% for 2007.
|Approved Changes| Mexico
Dividend distributions
Dividends that are not distributed out of the tax earnings account have to be multiplied with the following factor:
1.4286 for 2005; 1.4085 for 2006 and 1.3889 for 2007.
Tax credit
The tax reform provides that a credit for foreign tax is granted on dividends distributed by second-tier foreign subsidiaries if both the first and sec…
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