mexico-crypto-tax

Section 1 -- Quick Reference

Quick Reference

Field	Value
Country	United Mexican States (Estados Unidos Mexicanos)
Tax	Impuesto Sobre la Renta (ISR) on Virtual Assets
Currency	MXN (Mexican Peso) — all values must be in MXN at transaction date
Tax year	Calendar year (1 January -- 31 December) — "ejercicio fiscal"
Primary authority	Ley del Impuesto Sobre la Renta (LISR), Art. 126 (enajenación de bienes), Art. 142 (otros ingresos), Art. 152 (progressive rates)
Supporting legislation	Ley para Regular las Instituciones de Tecnología Financiera (Ley Fintech, 2018), Art. 30; Código Fiscal de la Federación (CFF), Art. 16-A; Circular 4/2019 Banco de México
Tax authority	Servicio de Administración Tributaria (SAT)
Filing portal	Portal SAT (sat.gob.mx)
Filing deadline	30 April of the following year (Declaración Anual de Personas Físicas)
International reporting	CARF — Mexico adopted implementation effective 1 April 2026; exchanges report to SAT
Validated by	Pending — requires sign-off by a Mexican Contador Público (C.P.) or licensed tax professional
Skill version	1.0

Key Principles

• Mexico does NOT have a specific crypto tax law — crypto is taxed under general ISR rules
• Virtual assets are classified as "activos virtuales" (intangible movable property) under Ley Fintech Art. 30
• They are explicitly NOT legal tender, NOT foreign currency, and NOT denominated in any currency
• The SAT taxes realized gains; mere holding (HODL) does not trigger tax
• There is an annual exemption of approximately $60,000 MXN for non-habitual disposals of movable property

Conservative Defaults

Conservative Defaults

Ambiguity	Default
Unknown whether trading or occasional	Treat as habitual (actividad empresarial) — higher compliance burden
Unknown cost basis	STOP — cannot compute gain without documented acquisition cost
Unknown residency status	STOP — Mexican residents taxed on worldwide income; non-residents on Mexico-source only
Mining classification unclear	Treat as "otros ingresos" (Art. 142 LISR) unless clearly commercial-scale
CFDI required?	If in doubt, issue CFDI for business crypto transactions
RESICO eligibility unclear	Verify income does not exceed $3,500,000 MXN annually

Section 2 -- Classification Rules

2.1 Legal Classification

Legal Classification

Term	Definition	Authority
Activos virtuales	Digital representations of value that can be electronically transferred and used as means of payment, NOT legal tender	Ley Fintech Art. 30
Bienes intangibles muebles	Intangible movable property — the SAT's fiscal classification for crypto	SAT criteria (oficios 2019–2025)
Enajenación de bienes	Disposal/alienation of property — the chapter under which crypto sales are taxed	LISR Art. 126

2.2 Taxable Events

Taxable Events

Event	Tax Treatment	LISR Chapter
Sale of crypto for MXN/fiat	Taxable — enajenación de bienes	Art. 126 (occasional) or Art. 100 (business)
Crypto-to-crypto exchange (swap)	Taxable — enajenación (disposal at FMV)	Art. 126 / Art. 100
Payment for goods/services with crypto	Taxable — disposal at FMV in MXN on date of transaction	Art. 126 / Art. 100
Mining rewards received	Taxable — income at FMV when received	Art. 142 (otros ingresos) or Art. 100 (business)
Staking rewards received	Taxable — income at FMV when received	Art. 142 (otros ingresos)
Crypto received as salary/payment	Taxable — employment or professional income at FMV	Art. 94 (salarios) or Art. 100
Holding crypto (HODL)	NOT taxable — no enajenación has occurred	—
Transfer between own wallets	NOT taxable — no change in ownership	—
Receiving crypto as gift	Taxable to recipient if exceeds annual gift exemption	Art. 93(XXIII) LISR

2.3 Occasional vs Business Activity

The SAT distinguishes between occasional disposals and habitual business activity:

Occasional vs Business Activity

Factor	Occasional (Enajenación de bienes)	Business (Actividad empresarial)
Frequency	Infrequent, sporadic sales	Regular, systematic trading
Intent	Not primary economic activity	Profit-seeking as primary activity
Tax treatment	Annual declaration; $60,000 MXN exemption may apply	Monthly provisional payments; full ISR + 16% IVA potential
Reporting	In Declaración Anual under "enajenación"	Monthly declarations + annual
Cost basis adjustment	INPC inflation adjustment allowed	Full deductions per business rules

Section 3 -- Rate Tables

3.1 ISR Progressive Rates — Personas Físicas (2025)

ISR Progressive Rates — Personas Físicas (2025) (LISR Art. 152; Resolución Miscelánea Fiscal 2025.)

Lower Limit (MXN)	Upper Limit (MXN)	Fixed Quota (MXN)	Marginal Rate
$0.01	$8,952.49	$0.00	1.92%
$8,952.50	$75,984.55	$171.88	6.40%
$75,984.56	$133,536.07	$4,461.94	10.88%
$133,536.08	$155,229.80	$10,723.55	16.00%
$155,229.81	$185,852.57	$14,194.54	17.92%
$185,852.58	$374,837.88	$19,682.13	21.36%
$374,837.89	$590,795.99	$60,049.40	23.52%
$590,796.00	$1,127,926.84	$110,842.74	30.00%
$1,127,926.85	$1,503,902.46	$271,981.99	32.00%
$1,503,902.47	$4,511,707.37	$392,294.17	34.00%
$4,511,707.38	En adelante	$1,417,491.57	35.00%

• Combining crypto gains with other income — Crypto gains are added to ALL other income for the year to determine the applicable bracket. (LISR Art. 152; Resolución Miscelánea Fiscal 2025.)

3.2 Corporate ISR Rate

Corporate ISR Rate (LISR Art. 9.)

Entity Type	Rate
Personas morales (corporations)	30% flat on net gain

3.3 RESICO Rates (Régimen Simplificado de Confianza)

If the taxpayer qualifies for RESICO (total annual income ≤ $3,500,000 MXN):

RESICO Rates (Régimen Simplificado de Confianza)

Annual Income (MXN)	Rate
Up to $300,000	1.00%
$300,001 – $600,000	1.10%
$600,001 – $1,000,000	1.50%
$1,000,001 – $2,500,000	2.00%
$2,500,001 – $3,500,000	2.50%

Warning: RESICO applicability to crypto traders is uncertain. Conservative default: use the general progressive regime unless a tax professional confirms RESICO eligibility.

3.4 The 20% Alternative Rate

• 20% alternative rate on gross proceeds — If a taxpayer cannot prove their cost basis for a crypto disposal, the SAT may apply a 20% rate on gross proceeds instead. This is not an elective option — it is a fallback when documentation is insufficient. (LISR Art. 126, third paragraph.)

3.5 Annual Exemption

Annual Exemption

Exemption	Amount	Condition
Enajenación de bienes muebles	~$60,000 MXN per year (3× UMA anualizada, approx. $124,000 MXN for 2025 per some sources)	Non-habitual disposals only; habitual traders do NOT qualify

The exact threshold is tied to the UMA (Unidad de Medida y Actualización) and updated annually.

Section 4 -- Cost Basis Methods

4.1 Accepted Methods

Accepted Methods

Method	Status
Specific identification	Primary method — match each sale to a specific acquisition lot
FIFO (First In, First Out)	Accepted when specific identification impractical
INPC-adjusted cost	Cost basis may be adjusted for inflation using INPC (Índice Nacional de Precios al Consumidor) from acquisition month to disposal month
Average cost	Less common; may be accepted with documentation
LIFO	Not standard practice

4.2 Cost Basis Components

Cost Basis Components

Component	Included?
Purchase price in MXN (at exchange rate on acquisition date)	Yes
Exchange fees and commissions on acquisition	Yes
Network/gas fees on acquisition	Yes
Exchange fees and commissions on disposal	Yes — deductible from proceeds
INPC inflation adjustment	Yes — for enajenación de bienes calculation

4.3 INPC Adjustment

• INPC adjustment formula — Adjusted cost = Original cost × (INPC disposal month / INPC acquisition month) (LISR Art. 124.)

For occasional disposals under the enajenación de bienes chapter, the cost basis can be adjusted for inflation:

This can meaningfully reduce the taxable gain for long-held assets in a high-inflation environment.

4.4 Unverifiable Cost Basis

• Unverifiable cost basis consequence — If the taxpayer cannot document their acquisition cost, the SAT may apply a 20% tax on gross sale proceeds. This is punitive — it effectively assumes zero cost basis and then applies 20% to the full amount.

Section 5 -- DeFi / Staking / Mining / Airdrop Treatment

5.1 Mining

Mining

Aspect	Treatment
Occasional mining (hobby)	"Otros ingresos" (Art. 142 LISR) — taxable at progressive rates
Commercial mining operation	Actividad empresarial — ISR at progressive rates + 16% IVA on services
Valuation	FMV in MXN at date of receipt
Cost basis of mined coins	FMV at receipt (for future disposal)
Deductible expenses (commercial)	Electricity, equipment depreciation, internet, facility costs
CFDI requirement	Business miners must issue CFDI for self-billed income

5.2 Staking

Staking

Aspect	Treatment
Staking rewards	Taxable as "otros ingresos" at FMV when received
Cost basis of staking rewards	FMV at receipt date (for future disposal)
Staking-as-a-service	If providing service: actividad empresarial + IVA
Loss from slashing	Likely not deductible absent specific SAT guidance

5.3 Airdrops

Airdrops

Aspect	Treatment
Promotional airdrop	Taxable as "otros ingresos" at FMV when received
Fork-based distribution	Cost basis of ₩0; taxable on disposal
Airdrop in exchange for a service	Income at FMV — may be actividad empresarial

5.4 DeFi

DeFi

Activity	Treatment
DeFi lending interest	Income at FMV — "otros ingresos" or business income
Liquidity provision (AMM)	Depositing tokens to pool = potential disposal; LP tokens have new cost basis
Yield farming rewards	Income at FMV when received
Impermanent loss	Not specifically addressed by SAT; likely not deductible
Crypto-to-crypto swaps in DeFi	Each swap is a taxable enajenación
Wrapping (e.g., ETH → WETH)	Arguable — conservative: treat as disposal

Section 6 -- NFT Treatment

NFT Treatment

Aspect	Treatment
Purchase of NFT	Acquisition cost for future disposal
Sale of NFT at profit	Taxable — enajenación de bienes at progressive ISR rates
Creation and sale (artist/creator)	Business income (actividad empresarial) — ISR + 16% IVA
NFT royalties	Income — "otros ingresos" or business income depending on regularity
NFT-to-NFT swap	Disposal of both — compute gain/loss on each
IVA on NFT sales	If business activity: 16% IVA applies to NFT sales (digital service)
CFDI for NFT sales	Required for business transactions

Section 7 -- Reporting Requirements

7.1 Individual Filing

Individual Filing

Requirement	Detail
Return type	Declaración Anual de Personas Físicas
Filing deadline	30 April of the following year
Filing portal	Portal SAT (sat.gob.mx)
Crypto section	No dedicated crypto form — report under "Enajenación de bienes" (occasional) or "Actividad empresarial" (business)
Payment deadline	30 April (or installments if arranged)

7.2 Monthly Provisional Payments

Monthly Provisional Payments

Who	Obligation
Habitual traders (actividad empresarial)	Must make monthly ISR provisional payments (pagos provisionales) by the 17th of the following month
Occasional sellers (enajenación)	No monthly obligation — annual declaration only

7.3 CFDI Requirements

CFDI Requirements

Scenario	CFDI Required?
Business-to-business crypto transactions	Yes — must issue CFDI
Business receiving crypto as payment	Yes — CFDI for the underlying supply
Individual occasional sale	No CFDI required for personal transactions
Mining as business	Yes — self-billed CFDI for mining income

7.4 CARF and Exchange Reporting

CARF and Exchange Reporting

Requirement	Detail
CARF adoption	Mexico implemented CARF effective 1 April 2026
Exchange obligations	Crypto intermediaries (exchanges, brokers, platforms) report user transaction data directly to SAT
What is reported	User identification, transaction amounts, gains/losses
Impact	SAT can cross-reference declared income against exchange reports

7.5 Record-Keeping

Record-Keeping

Requirement	Detail
Retention period	5 years from filing deadline (CFF Art. 30)
Records to maintain	Full transaction logs, exchange CSVs, cost basis records, CFDI documentation, INPC adjustment workpapers
Format	Digital records acceptable; XML for CFDI
Burden of proof	On the taxpayer — SAT can audit and request all documentation

Section 8 -- Loss Offset and Carry-Forward

8.1 Loss Offset Rules

Loss Offset Rules

Rule	Detail
Loss offset within same category	Losses from enajenación de bienes muebles can offset gains from enajenación de bienes muebles within the same year
Cross-category offset	Losses from crypto generally CANNOT offset employment income, interest, or other income categories
Actividad empresarial losses	Business losses can offset business income; carry-forward for up to 10 years
Enajenación losses	Limited offset — only against gains from same type of asset disposal

8.2 Business Loss Carry-Forward

Business Loss Carry-Forward

Rule	Detail
Available to	Taxpayers under actividad empresarial regime
Duration	Up to 10 years
Adjustment	Must adjust for inflation using INPC
Condition	Must be properly documented and declared in the year incurred

8.3 Key Limitation

Occasional sellers (enajenación de bienes) have significantly more limited loss utilization than business traders. If crypto trading generates recurring losses, consult a tax professional about whether actividad empresarial classification is more appropriate.

Section 9 -- Anti-Avoidance Rules

9.1 SAT Enforcement Powers

SAT Enforcement Powers

Measure	Detail
Exchange data access	SAT receives transaction data from Mexican exchanges (Bitso, etc.) and through CARF from foreign platforms (from April 2026)
Bank account monitoring	SAT monitors bank deposits; large unexplained deposits trigger audits
Discrepancia fiscal	If spending exceeds declared income, SAT can assess tax on the difference
Informant reporting	Third-party reporting obligations exist

9.2 Penalties

Penalties

Violation	Penalty
Failure to file	55%–75% surcharge on unpaid tax
Late filing	Inflation-adjusted surcharges (recargos) + fines
Underdeclared income	55%–75% of unpaid tax + surcharges
Tax fraud (defraudación fiscal)	Criminal penalties — imprisonment and fines
Failure to issue CFDI	Fines per missing CFDI

9.3 Transfer Pricing

• Transfer pricing for related-party crypto transactions — For related-party crypto transactions (e.g., between a taxpayer and a controlled entity), arm's length principles apply. The SAT can recharacterize transactions at fair market value.

9.4 Crypto as Payment for Invoiced Services

• Crypto as payment for invoiced services obligations — If crypto is used to pay for services that should be invoiced, both parties have obligations: the service provider must issue a CFDI in MXN at the transaction-date exchange rate, and the payer must recognize a disposal of the crypto at FMV.

Section 10 -- Worked Examples

Example 1 -- Occasional Sale, INPC Adjustment

Input: Mexican tax resident, salaried employee. Bought 0.5 BTC on Bitso in January 2024 for $250,000 MXN. Sold 0.5 BTC in November 2025 for $500,000 MXN. Exchange fees: $3,000 MXN total. INPC Jan 2024: 133.24; INPC Nov 2025: 142.50 (hypothetical). No other disposals in the year. Salary income: $600,000 MXN.

Computation:

Disposal proceeds:          $500,000
Less exchange fees:          -$3,000
Net proceeds:               $497,000

Cost basis:                 $250,000
INPC adjustment:            $250,000 × (142.50 / 133.24) = $267,380
Adjusted cost basis:        $267,380

Gain:                       $497,000 - $267,380 = $229,620

Exemption check:            Single disposal, non-habitual — $60,000 exemption does NOT apply
                            if total disposals exceed the threshold (verify UMA for year).
                            Conservative: treat as fully taxable.

Combined income:            $600,000 salary + $229,620 crypto = $829,620 total

ISR on $829,620:
  Art. 152 tariff:          $110,842.74 + ($829,620 - $590,796) × 30%
                          = $110,842.74 + $71,647.20
                          = $182,489.94

Less ISR already withheld on salary (employer PAYE), the crypto gain adds
approximately $68,886 in additional ISR ($229,620 × ~30% effective marginal rate).

Filed in Declaración Anual by 30 April 2026.

Example 2 -- Habitual Trader with Monthly Provisionals

Input: Mexican tax resident. Trades crypto full-time on Bitso and Binance. Total 2025 trading income: $1,200,000 MXN in net gains. Operating expenses (internet, equipment): $80,000 MXN. Registered under actividad empresarial.

Computation:

Gross income:               $1,200,000
Deductible expenses:         -$80,000
Net taxable income:         $1,120,000

ISR on $1,120,000:
  Art. 152 tariff:          $110,842.74 + ($1,120,000 - $590,796) × 30%
                          = $110,842.74 + $158,761.20
                          = $269,603.94

Monthly provisionals:       ~$22,467/month (subject to adjustment based on actual monthly income)
Annual reconciliation:      File Declaración Anual, credit provisional payments against annual ISR

Monthly provisional payments due by the 17th of the following month.

Example 3 -- Mining Income

Input: Mexican tax resident operates a small mining rig at home. Mined 0.02 BTC over 2025 with total FMV of $20,000 MXN at various receipt dates. Electricity cost: $8,000 MXN.

Computation:

Mining income (otros ingresos):   $20,000 (FMV at receipt dates)
Cost basis for mined BTC:         $20,000 (for future disposal calculation)

If classified as otros ingresos (occasional):
  Added to other income for progressive rate computation
  Deductions: limited under otros ingresos chapter

If classified as actividad empresarial:
  Electricity deduction:   $8,000
  Net income:              $12,000
  ISR: at progressive rates, added to other income
  IVA: 16% may apply on mining services

Conservative: declare as otros ingresos unless professional confirms business classification.

Self-Checks

Before finalising any Mexico crypto tax computation, verify:

• Has the taxpayer confirmed Mexican tax residency?
• Are all transaction values converted to MXN at the transaction-date exchange rate?
• Is the taxpayer classified as occasional (enajenación) or habitual (actividad empresarial)?
• Has the INPC adjustment been applied for enajenación de bienes?
• Is the annual exemption for movable property applicable (non-habitual only)?
• Has the 20% gross proceeds fallback been avoided by documenting cost basis?
• For business traders: are monthly provisional payments being made?
• Have all crypto-to-crypto swaps been treated as disposals?
• CFDI requirements: are business transactions properly invoiced?
• Have loss offset rules been applied correctly (same category only)?
• CARF: does the taxpayer know exchanges now report to SAT?
• Flag for reviewer: confirm UMA-based exemption threshold for the relevant year

PROHIBITIONS

• NEVER state that crypto is tax-free in Mexico — realized gains are taxable under ISR
• NEVER ignore crypto-to-crypto swaps — each is a taxable enajenación
• NEVER apply the 20% gross proceeds rate by choice — it is a punitive fallback for missing cost basis
• NEVER forget INPC adjustment for occasional disposals — it can meaningfully reduce tax
• NEVER mix enajenación and actividad empresarial rules — they have different compliance obligations
• NEVER ignore monthly provisional payment obligations for business traders
• NEVER assume RESICO eligibility without verification of income limits and regime requirements
• NEVER compute gains in USD or other currencies — SAT requires MXN
• NEVER treat wallet-to-wallet transfers as taxable disposals
• NEVER ignore CARF reporting — SAT receives exchange data from April 2026
• NEVER present crypto tax positions as definitive — always label as estimated and flag for professional review

Disclaimer

This skill and its outputs are provided for informational and computational purposes only and do not constitute tax, legal, or financial advice. Open Accountants and its contributors accept no liability for any errors, omissions, or outcomes arising from the use of this skill. All outputs must be reviewed and signed off by a qualified professional (such as a Mexican Contador Público, licensed tax advisor, or equivalent licensed practitioner in your jurisdiction) before filing or acting upon.

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