Mexico Payslip Explained
Erez Greenberg| May 16, 2019
Expanding to Mexico might be the right move for your business. At Papaya Global we’re passionate about sharing knowledge, assisting our clients in exploring and reaching out to new markets, and making global employment as easy and as transparent as possible.
By providing a visual breakdown of a Mexico payslip we aim to help you better understand the taxes, deductions, and contributions that go with payroll.
In Mexico, did you know…?
• Maquiladoras are foreign owned factories in Mexico that are intriguing to US companies due to incentives such as: reduced taxes, lower labor/production cost, and ease of trade.
• If you want to be an employer in Mexico, 90% of your workforce must be Mexican Citizens.
• As of the 1st of January 2019, the minimum wage has increased in the two geographical Zones. The Northern border or “Free Zone” has risen to $176.72 Mexican pesos, and the rest of the country has risen to $102.68 Mexican Pesos a day
Do you have any questions regarding specific countries payslip? If so, let us know.
(click thumbnail to enlarge)