Crypto Tax Calculator for Mexico
Calculate your tax liability based on Mexico's current crypto tax rules. Individuals receive a tax exemption on crypto gains up to 90,000 MXN ($4,000 USD) per year.
Add Your Transactions
Transaction History
Tax Calculation Results
Exemption Threshold:
90,000 MXN ($4,000 USD)
Total Gains:
0.00 MXN
Exempt Amount:
0.00 MXN
Taxable Amount:
0.00 MXN
Applicable Tax Rate:
0.00%
Total Tax Due:
0.00 MXN
Note: For individuals, crypto gains are added to your total income and taxed under Mexico's progressive income tax scale (1.92% to 35%). There's a $4,000 USD exemption on capital gains from movable property.
Mexican tax law defaults to FIFO (First-In-First-Out) for calculating gains. This calculator uses FIFO to determine your tax liability.
How Mexico Taxes Your Crypto Gains and Income
If you’re buying, selling, or using Bitcoin, Ethereum, or any other cryptocurrency in Mexico, you’re likely subject to taxes-even if no one told you directly. Unlike countries with clear crypto tax laws, Mexico doesn’t have a special rulebook for digital assets. Instead, your crypto transactions are treated like any other property sale under existing tax laws. That means crypto taxation in Mexico isn’t about new rules-it’s about applying old ones in new ways.
Here’s the reality: every time you trade one crypto for another, spend Bitcoin on coffee, or sell Ethereum for pesos, you trigger a taxable event. The Mexican tax authority doesn’t care if you think it’s just a swap. Legally, it’s a sale. And if you made money on it, you owe taxes.
What Counts as a Taxable Event?
You don’t pay tax just because your Bitcoin went from $20,000 to $30,000. Holding crypto doesn’t create a tax bill. But as soon as you move it-sell it, trade it, spend it-you’ve triggered a realization event. The Mexican Income Tax Law (MITL) only taxes gains when they’re realized, not when they’re paper profits.
- Selling crypto for Mexican pesos or U.S. dollars
- Trading Bitcoin for Ethereum or any other token
- Using crypto to buy goods or services (like a laptop, flight, or meal)
- Receiving crypto as payment for work or services
Even if you never touch fiat currency, every crypto-to-crypto trade is treated as two separate sales: you sold your first asset at its market value and bought the second one. That’s why active traders often have dozens of taxable events in a year.
How Much Tax Do You Owe?
There are two main groups: individuals and companies. They pay under completely different systems.
For individuals: Crypto gains are added to your total income and taxed under Mexico’s progressive income tax scale, which ranges from 1.92% to 35%. There’s no separate capital gains rate. If you’re a low earner, you might pay just 2%. If you’re making six figures, you could pay up to 35%.
But here’s the relief: Mexican individuals get a tax exemption on capital gains from movable property-like crypto-up to 90,000 Mexican pesos per year (about $4,000 USD). That means if your total crypto profits for the year are under $4,000, you owe zero tax. Many casual users never hit this threshold.
For companies: All crypto gains are taxed at a flat 30%. No exceptions. No holding period discounts. No special treatment for long-term investments. If your business bought 5 BTC for $100,000 and sold it for $150,000, you pay 30% on the $50,000 profit-no matter how long you held it.
What About Mining, Staking, and Airdrops?
There’s no official guidance, but tax experts agree on how these should be treated based on existing law.
Mining: When you mine crypto, you receive it as income. The value of the coins at the moment they hit your wallet is taxable as ordinary income. If you mine 0.1 BTC when it’s worth $6,000, you report $6,000 in income. Later, if you sell it for $7,000, you pay tax on the $1,000 gain.
Staking and DeFi rewards: Same rule. When you earn interest or rewards in crypto, it’s income on the day you receive it. If you get 0.5 ETH as a staking reward when it’s worth $1,200, you report $1,200 as income. If you later sell it for $1,500, you pay tax on the $300 gain.
Airdrops and hard forks: If you receive new tokens for free-like when Ethereum split into Ethereum and Ethereum Classic-you owe tax on the fair market value at the time you gain control of the new asset. No one sent you a 1099. You’re responsible for tracking it.
Record Keeping: The Most Important Part
Without proper records, you can’t prove your cost basis. And without cost basis, the tax authority assumes your entire sale amount is profit.
You need to track:
- Date and time of every purchase
- Amount paid (in crypto and peso equivalent)
- Exchange used
- Wallet address where you received it
- Date and time of every sale or trade
- Amount received (in crypto and peso equivalent)
- Counterparty (if known)
Mexican tax law doesn’t officially say which accounting method to use, but the default is First-In-First-Out (FIFO). That means if you bought 1 BTC in January for $30,000 and another in June for $40,000, and you sell 1 BTC in November, the IRS-style assumption is that you sold the first one you bought. So your cost basis is $30,000, not $40,000.
Converting everything to Mexican pesos at the time of each transaction is mandatory. You can’t use an average exchange rate. You need the exact rate from a reputable source on the exact day of the trade.
Reporting Requirements and AML Rules
Tax reporting isn’t the only compliance hurdle. Mexico’s anti-money laundering laws add another layer.
If you’re a non-financial entity-like an individual or small business-and you conduct a crypto transaction worth $3,500 USD or more, the exchange or platform must report it to the Ministry of Finance. You don’t file this yourself, but the government knows about it.
That means if you’re doing regular trades, even small ones, you’re likely on their radar. If your total annual gains exceed $4,000, and you don’t report them, you risk penalties, interest, and audits.
Financial institutions like banks and licensed fintechs face even stricter rules. They need authorization from Banco de México to handle crypto-but even then, they can’t offer crypto services to the public. So most retail users interact with unlicensed exchanges, which still must comply with AML reporting.
How Mexico Compares to Other Latin American Countries
Mexico isn’t the strictest, but it’s not the friendliest either.
El Salvador made Bitcoin legal tender in 2021-but reversed that in January 2025. Now, crypto gains are taxed like everything else. Argentina offered a crypto tax amnesty through March 2025, letting people declare hidden holdings without penalties. Brazil has a 15% capital gains rate on crypto sales over 35,000 BRL.
Mexico’s 35% top rate is high. But the $4,000 exemption helps. Most casual users won’t pay anything. Only those with serious gains or active trading face the full burden.
What’s Changing in 2025?
Nothing major. President Claudia Sheinbaum hasn’t prioritized crypto reform. The ruling Morena Party has added tax clauses to existing laws but hasn’t created a new crypto tax code. The system remains a patchwork of old rules applied to new tech.
Expect more enforcement, not more clarity. The government is focused on tracking transactions, not simplifying them. The $3,500 AML reporting threshold is low compared to the U.S. ($10,000) or the EU ($1,000), meaning Mexico is watching more closely.
Industry groups are pushing for better guidance, especially on DeFi, NFTs, and cross-border transactions. But for now, you’re on your own.
What Should You Do?
Here’s your action plan:
- Track every transaction-buy, sell, trade, spend, earn.
- Convert all values to Mexican pesos using official exchange rates on the transaction date.
- Calculate your total annual crypto gains. If under 90,000 MXN ($4,000 USD), you owe nothing.
- If over the exemption, add your crypto profits to your other income. Use the progressive tax table to find your rate.
- Keep records for at least five years. The tax authority can audit you anytime.
- Consult a Mexican tax professional who understands crypto. Most accountants don’t.
Don’t wait until tax season. Start tracking now. The system doesn’t forgive sloppy records. And if you’re trading often, you’re already liable-even if you didn’t realize it.
Frequently Asked Questions
Do I pay tax if I just hold crypto in Mexico?
No. Simply holding cryptocurrency-whether it goes up or down in value-is not a taxable event in Mexico. You only owe tax when you sell, trade, spend, or receive it as income. Holding is tax-free, even if your portfolio grows by 500%.
Is trading Bitcoin for Ethereum taxable in Mexico?
Yes. Trading one cryptocurrency for another is treated as selling the first asset and buying the second. You must calculate the fair market value of the Bitcoin in pesos at the time of the trade. Any gain above your original cost basis is taxable. Even if you don’t convert to pesos, you still owe tax on the profit.
What if I use crypto to buy groceries?
You’ve triggered a taxable event. Using crypto to pay for goods or services is treated as selling that crypto at its market value at the time of purchase. If you bought 0.01 BTC for $200 and used it to pay $300 for groceries, you have a $100 capital gain that’s taxable. The store doesn’t care-you do.
Do I need to report crypto income to the SAT (Mexico’s tax authority)?
Yes. If your total crypto gains exceed 90,000 Mexican pesos ($4,000 USD) in a year, you must report them as part of your annual income tax return. Even if you’re below the threshold, keeping records is required by law. The SAT can cross-check with AML reports from exchanges.
Can I use FIFO or average cost to calculate my crypto gains?
Mexican tax law doesn’t specify a method, but the default assumption is FIFO (First-In-First-Out). This means the first coins you bought are considered the first ones sold. While some taxpayers use average cost, it’s not officially recognized. Using FIFO reduces your risk of audit or dispute with the tax authority.
Are staking rewards taxed in Mexico?
Yes. Staking rewards, DeFi yield, and other crypto earnings are treated as income when you receive them. The value of the tokens at the time they land in your wallet is taxable as ordinary income. You’ll pay tax on that amount based on your income bracket. Later, if you sell those rewards, you may owe additional capital gains tax.
What happens if I don’t report my crypto gains?
You risk penalties, interest charges, and audits. Mexico’s tax authority receives transaction reports from exchanges when amounts exceed $3,500 USD. If your gains are above $4,000 and you didn’t report them, the SAT can reconstruct your income and demand back taxes plus fines up to 75% of the unpaid amount. It’s not worth the risk.
Next Steps for Crypto Users in Mexico
If you’re just starting out, use a crypto tax tool that supports Mexican peso conversions and FIFO accounting. Export your transaction history from all wallets and exchanges. Match each buy and sell with the peso value on the day it happened.
If you’re an active trader or miner, hire a Mexican tax advisor who’s handled crypto cases before. Most general accountants won’t know how to apply the rules correctly.
If you’re below the $4,000 exemption, you’re in the clear-but keep records anyway. Laws change. The next administration might lower the exemption or remove it entirely. Don’t assume it’s safe forever.
Mexico’s crypto tax system isn’t designed for convenience. It’s designed for control. The best way to navigate it is with clear records, honest reporting, and no assumptions.
