Payroll in Mexico

Managing payroll in Mexico

Mexico is the 11^th largest economy in the world with growth set to continue. It focuses on exports, and operates free trade agreements with over 40 jurisdictions including the USA, Japan and the European Union. Although there is much poverty in the country a growing middle class with increasing purchasing power gives plenty of reasons as to why your company might invest in Mexico and have employees based there

Like any modern economy there are significant payroll and employment law obligations for companies to meet, as well as the variants encountered in working in a Federal country. Our course details the basics of Mexican payroll, and will cover the following areas:

• Customs and business etiquette
• Business start up formalities
• New hire process and paperwork
• CURP numbers
• Structure of Tax Administration Service (SAT)
• RFC Number
• Income Tax (ISR)
• Make up to gross pay
• Food coupons
• ISR rates and calculations
• Employment Subsidy
• Expense reimbursements
• FIEL signature
• CFDI – Payslip delivery/reporting
• ISR payment to SAT
• IMSS – Employer registration
• UMA – Unit of measurement and Updating
• Base salary of Contribution (SBC)
• IMSS contribution rates
• IMSS Work Accident Insurance
• Contribution rates
• INFONAVIT contributions
• SUA reporting
• Employee State Payroll Tax
• Minimum wage
• Annual Christmas bonus (Aquinaldo)
• Mandatory Profit Sharing
• Annual vacation
• Family and Sick leave
• Severance arrangements

Courses Overview

Course Content

This course can be run in house making it suitable for attendance from an entire management team as well as payroll professionals - HR and Finance/Tax managers, giving all senior stakeholders an excellent grounding in what’s in store for the company with employees in Mexico or looking to expand their operations into Mexico.