Dear clients and friends,

On November 29, 2023, the Decree that reforms the articles 251 of the Social Security Law, 146 of the Federal Labor Law and adds the article 59 Bis of the Law of the National Housing Fund Institute for Workers, was published and establishes the following:

a) People who have voluntarily registered in the mandatory Mexican Social Security Institute regime must do, within the calculation of employer-worker quotas, the calculation corresponding to housing contributions on the reported income.

b) Workers voluntarily registered in the mandatory Mexican Social Security Institute regime may be able to contribute to the National Housing Fund, which allow them to obtain a low-price and sufficient credit.

c) Workers voluntarily registered in the mandatory Mexican Social Security Institute regime may be able to contribute to the housing subaccount of the individual account of the retirement savings systems.

The aforementioned Decree will come into force on January 1st, 2024.

Finally, our team of professionals is at your disposal to advise your company, with the purpose of correctly complying with your tax obligations, and risks prevention.

In case you have any questions or comments, please do not hesitate to contact us.

Best regards.