June 2023

New highway section opens from Guadalajara to Puerto Vallarta

Another section of the Guadalajara–Puerto Vallarta highway has opened, getting drivers another step closer to a world in which driving time between the two cities will drop by two hours.  The road opening comes about two months after the 23.6-kilometer Capomo-La Florida route began operations in December 2022, connecting Las Varas with Junction 692, an …

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Mexico Requires All Expats to Get a Taxpayer Number by July 1

Puerto Vallarta, Mexico – The 2022 Tax Reform requires all Mexican citizens and legal residents aged 18 or over to have a Registro Federal de Contribuyentes (Federal taxpayer registration, commonly referred to as an ‘RFC’), as of July 1, 2022. If you have a Temporary or Permanent resident card, or a CURP, you must get an RFC, which …

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Central bank raises interest rate to 11.25%, another record high

The Bank of Mexico (Banxico) has voted to raise its benchmark interest rate by 25 basis points to a record high of 11.25% as it continues its fight against inflation.  The central bank’s key rate has now risen 725 basis points in the current tightening cycle, which began in June 2021.  Thursday’s unanimous vote by …

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