Cash Deposit

Discussion in 'Living in Cancun' started by matkirk, Mar 4, 2013.

  1. matkirk

    matkirk Guru Registered Member

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    I need to deposit 35k pesos in a business bank account - is that ok or will they do me/him for the tax, or is that cash limit just on personal accounts?

    Thanks for any info!
     
  2. matkirk

    matkirk Guru Registered Member

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    If I got a cashiers check for the money and then deposited that check into the account we wouldn't be liable for the tax right?
     
  3. Alma Libre

    Alma Libre Regular Registered Member

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    The tax is only on cash deposits.
     
  4. matkirk

    matkirk Guru Registered Member

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    How do restaurants and other cash businesses get round this then when they deposit their takings? or do they have to pay the tax?
     
  5. Steve

    Steve Administrator Owner

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    Do you have the cash sitting there in your hand and you need to deposit it, or were you thinking of withdrawing it and then depositing it?

    If the former I've never done that so not sure but I guess you'd pay the tax. If you dont have the cash already then a simple transfer would be best, you can just do that over the counter no need for a cashiers check first.
     
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