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Fintech Will Retain Tax on Savers to Approve with Banks: Finance
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The financial technology sector, known as Fintech, will have to withhold taxes on savers from 2026, in order to homologize its operation with the tax treatment received by other financial institutions, said Édgar Amador, Secretary of Finance. “We are looking for the approval of the conditions (...) to approve tax treatments for the same product,” the secretary stated at a press conference offered 12 hours after having delivered the 2026 Economic…
Not only will the banks have changes in 2026 and will fail to deduct their contributions to IPAB; the Ministry of Finance and Public Credit (SHCP) will also make changes for fintech to retain the Income Tax (ISR) and Value Added Tax (VAT) from the profits obtained by its customers. According to the owner of the dependency, Édgar Amador Zamora, explained that, due to its novelty and its status as a nascent sector, the fintech have until today had…
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