Quintana Roo Brokers to Pay 5% Tax on Real Estate Sales
Article 22 of the Finance Law of the State of Quintana Roo establishes that “taxpayers who obtain income from the sale of real estate must pay a 5% tax on the taxable base determined in each transaction”.
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The Congress of Quintana Roo approved a comprehensive reform to several legal provisions for real estate intermediaries, with the purpose of strengthening the legal framework regarding the payment of the real estate transfer tax.
The reform includes amendments to the State Finance Law, the Tax Code, the Valuation Law, the Public Administration Organic Law, the Tax Administration Service Law, the Cadastre Law and the State Rights Law. This wide range of changes seeks to ensure that all players in the real estate market contribute equitably to the state treasury.
In practical terms, disposing of a property means selling it and transferring the real right to another person. Real estate intermediaries, known as brokers, will now have to pay a 5% tax on the profit obtained in each real estate sale transaction.
Article 22 of the Finance Law of the State of Quintana Roo establishes that “taxpayers who obtain income from the alienation of real estate must pay a 5% tax on the taxable base determined in each transaction”.
This measure is intended not only to increase tax revenues but also to ensure a more rigorous and equitable compliance with tax obligations among those involved in the real estate market.
Source: Milenio
