When presenting the economic package, the Ministry of Finance, headed by Rogelio Ramírez de la O, proposed for 2024, an annual withholding rate of 1.48% for savers, a level 8.6 times higher than the one currently applied, which is 0.15 %. In 2022, this was 0.08%.
In this regard, analysts and deputies warn that the initiative could affect savers and investors who have their money in instruments such as cetes and other types of bonds.
Yorio explained that pension accounts are exempt from this withholding, in addition to savings accounts of less than 149,000 pesos.
“The withholding rate does not imply charging a higher tax on savers, in reality it is only withheld, and savers have the possibility of deducting the withholding rate, against the collection of the ISR, at the end of the period, so it is like a mechanism to pre-fund the potential payment of the ISR, at the end of each period for each saver,” Yorio explained to the Treasury Commission.
The official indicated that the withholding rate provisions are in the Income Tax Law and at this time a proposal for fiscal miscellany, that is, for changes in tax matters, was not sent.
“So there is currently no discussion on the Income Tax Law, it would be established temporarily in the Income Law, and in future sessions, in other years, in other discussions of the fiscal program, when the Income Tax Law is opened, we can and to adjust permanently,” he explained to reporters at the end of the meeting with deputies.