What are the most important income tax matters for a digital nomad moving to Mexico? - Palma Financial

What are the most important income tax matters for a digital nomad moving to Mexico?

As a digital nomad considering moving to Mexico, there are several key income tax matters to consider:

  1. Tax residency: Will you be considered a Mexican tax resident based on your home and center of vital interests in Mexico?
  2. Taxation of worldwide income: As a Mexican tax resident, you will be taxed on your worldwide income. This includes any income you earn as a digital nomad.
  3. Filing tax returns: You must file a tax return in Mexico by April 30th, following the tax year.
  4. Compliance with U.S. tax laws: As a U.S. citizen, you may also have additional tax compliance and reporting obligations in the U.S.
  5. Avoid double taxation: It is important to ensure compliance with Mexican and U.S. tax laws to avoid potential double taxation.

It is important to consult with a tax professional who can advise you on your specific tax obligations as a digital nomad moving to Mexico to ensure compliance and avoid potential double taxation.

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