Articulo 93 del isr 2021
Exempt income en español
Income tax will not be paid on the amounts paid by insurance institutions to their policyholders or their beneficiaries arising from life insurance contracts, when the person paying the premium is different from the one mentioned in the preceding paragraph and the beneficiaries of such insurance policies are given for death, disability, organic losses or inability of the insured to perform personal work.
The covered risk referred to in the preceding paragraph shall be calculated taking into account all insurance policies covering the risk of death, disability, organic loss or incapacity of the insured to perform personal work remunerated in accordance with the social security laws, contracted for the benefit of the same insured by the same employer.
The provisions of this section shall only be applicable to income received from insurance institutions constituted in accordance with Mexican law, which are authorized to organize and operate as such by the competent authorities.
As we explained in this note, «it is a direct tax that is applied to the profits obtained during the fiscal year. In other words, it is maintained to the difference between income and authorized deductions». Regardless of the nature, denomination or origin, the profit of the good or activity that increases the taxpayer’s net worth is taxed.
Article 93 of the LISR sets forth the series of income that should not pay this tax. If you want to know more about these exemptions, in the following blog we will specify what they are. Here you will learn all about exempt income. The following information is compiled from Servicio de Administración Tributaria (SAT).
Minimum wage 2021
Overtime paid to workers who receive the SMG is exempt from paying ISR, provided that it does not exceed three hours per day or three times in a week. ISR is payable on the excess.
With respect to the payment of overtime made to workers who receive a salary higher than the general minimum wage, only 50% is exempt from income tax, provided that the following requirements are met:
Determination of the exempt and taxable amount for the overtime payment of a worker who receives more than one SMG, and who worked 12 hours of overtime in one week (three, four, one and four hours, on Mondays, Tuesdays, Thursdays and Fridays, respectively).
Retirements, pensions, retirement assets, as well as lifetime pensions or other forms of retirement, coming from the retirement insurance subaccount or the retirement, severance at advanced age and old age subaccount, provided for in the IMSS Law and those coming from the SAR individual account provided for in the ISSSTE Law, in the cases of:
That is to say, every time you make a withdrawal from your SSI you must pay a tax on the interest that has been generated, in this case, the tax is calculated on the capital that gave rise to the payment of interest (the amount of your contributions). (Income Tax Law Art. 135 and Federal Income Law for the Fiscal Year 2021 Art. 21).
*** It is determined by updating the contributions that are withdrawn based on the NCPI from the date of contribution to the date of withdrawal, the result obtained is compared with the sum of the contributions and interest to be withdrawn, resulting in the real interest. You can find this information in your Withholding Statement, which is given to you at the time you make your withdrawal.