Great news for anyone who likes to travel to Yucatan:
In order to encourage foreign tourism visits to Yucatan and to obtain a greater economic benefit to the state, the Tax Back program will be established in Merida. …
The president of CANACO, Jose Manuel Lopez Campos, highlighted the benefits that the Tax Back program will bring to trade and tourism industry by reimbursing the taxes that foreign visitors pay on all purchases in Yucatan, made with participating local businesses. Visit taxback.com.mx for list of participating locations.
From what I understand, the way it works is that you buy products in the state of Yucatan, and through the program they give you the taxes back which you paid on the package.
I’m not sure how much it will benefit Yucatan real estate owners directly – does it apply to all non-Mexicans or just to those who reside outside of the country/state? It seems that you need an FMM – a tourist visa, which means that in any case you’ll be around for no more than 6 months.
In any case, this should give international tourism in the state a boost, which is always a good for real estate value and expat lifestyle.
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 16 years. In the summer of 2009, he received the first federally applied Mexico Real Estate Degree and Mexico Professional Real Estate License S.E.P. #5978657. He is the president of Top Mexico Real Estate. Contact him at (512) 879-6546.
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