To all our clients of Investment Companies
Due to the tax reform valid from January 1st, 2014, equity investment funds will be affected as follows*:
A. Individuals resident in Mexico:
10% tax payment on capital gains. Also, losses related to transactions in Equity Investment Companies may be deducted from gains. It is important to mention this tax will not be paid until profit has not been completed, meaning, having sold the fund position in which it is invested.
Individuals resident in Mexico obtaining gains and/or losses from the sale of shares issued by Equity Investment Companies, the information related to this will be provided in an annual record in February of the following fiscal year, this means, derived from this reform the first annual record you will be receiving will be in February 2015.
It is important to mention Investment Companies do not determine nor withhold taxes; the client is the one that determines the gains or losses in the calculation of the annual tax return.
B. Individuals resident abroad:
For clients resident abroad, Actinver will make the withholding at the time of the sale, nevertheless, it is important for all foreign clients to sign under oath the “Tax Residence Statement” (provided by Actinver) by the account holder as well as co-owner (foreign party), stating residency due to treaty effects to avoid double taxation of the pertaining country, and also tax registration number issued by the tax authority (Annex).
For acquisition of shares of Equity Investment Companies performed prior to January 1, 2014, the average acquisition price of each of the assets, will be the average value of the last twenty two prices immediately before to this date.
We would like to take this opportunity to wish you an excellent 2014.
GRUPO FINANCIERO ACTINVER
*It is important to state Grupo Financiero Actinver, S.A. de C.V., its subsidiary companies, affiliates and employees, within the advisor services provided does not provide legal or tax services to its clients. This statement and Annex are only for informational purposes, they cannot or must not be considered as tax assessment, and hence it is indispensable you request independent tax assessment.