Important changes in Mexico’s tax laws were discussed at a Capital Gains Tax Seminar held on July 20th at the Westin Resort and Spa Hotel at the Marina. More than 80 real estate professionals attended the five hour seminar which was given by attorney David Connell and two of his associates, Everardo Terán and Gabriela Rojas.
Connell and his team explained the basic rules of the new ISR tax law. Various capital gains scenarios for foreign property owners were discussed at the seminar. Exemptions from capital gains tax are determined by the Notario handling the transaction and are based on criteria including residency status and the amount of the sale transaction.
The event was organized by David Pullen of PV Realty and Tere Kimball of Prudential California Realty. Kimball is president of AMPI Riviera-Nayarit and Pullen is president of AMPI Puerto Vallarta. AMPI is the Mexican Association of Real Estate Professionals. Both local AMPI chapters are working to improve professional education for all members, affiliates and real estate agents throughout the Bay of Banderas area. To join AMPI, agents should contact Elena Andrade at: (329) 298-1212.
