In this next video, Nick Fong discusses Capital Gains Tax. Just like in the United States and Canada, whenever you sell a property for more than you spent for it, the profit is considered Capital Gains.
At the time of purchase your currency is converted into Mexican Pesos at the current rate to buy properties here as well. Therefore when closing with selling price higher than purchase price capital gains tax will be calculated because peso values on each side are different. Now, watch the video to see what percentage is calculated for Capital Gains Tax. You’ll uncover Nick Fong’s explanation of this often overlooked tax law with your own eyes and ears.