This fortnight you will receive more money, they will take less ISR from you – Latest News, Breaking News, Top News Headlines

A few days ago the Tax Administration Service (SAT) released the tables that will be in force in 2021 for individuals, with regard to Income Tax (ISR) rates.

With this publication it becomes official that there will be a decrease in the taxes that are discounted, as a result of accumulated inflation. The Official Gazette of the Federation (DOF) published Annex 8 of the Miscellaneous Fiscal Resolution (RMF) for 2021, which contains the rates to calculate taxes, taking inflation into account.

The Income Tax Law provides that the rates applied in calculating the tax paid by individuals are updated in accordance with the inflationary increase when it exceeds 10% since the last time it was updated, says the DOF.

Now, if you want to know how this benefits you, it is very simple, on your payroll receipt you will see a lower discount in the ISR section, which means that you will receive more money in your salary. So you should be aware of your next receipt and buy it with a previous one to verify that this is fulfilled.

If this is not the case, you can file a complaint with the Federal Board of Conciliation and Arbitration or the corresponding state authorities. As data, the last time the ISR rates were updated was in 2017 and it became effective on January 1, 2018.

This adjustment to the ISR was made after in 2020 it closed at levels above 10 percent, you must take into account that this benefit applies to individuals, so those with lower salaries are the ones who will be more benefited.

For more information on this and other topics, visit our Savings section.

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