LISR definition

LISR. Means the Income Tax Law (Ley del Impuesto sobre la Renta).

LISR means the Mexican Income Tax Law (Ley del Impuesto sobre la Renta), as amended, either in full or in part, supplemented, or otherwise modified from time to time.

LISR. Means the Income Tax Law (Ley del Impuesto Sobresobre la Renta).

Examples of LISR in a sentence

• According to the tax reforms published on December 11, 2013, NPOs with authorized donee status are now expressly able to engage in advocacy activities aimed to influence legislation, provided that such activities are unpaid and are not carried out on behalf of any donor (LISR Article 82(III)).

• Under Articles 187 and 188 of the Mexican Income Tax Law (LISR for its Spanish acronym), it is required to distribute an amount equal to at least 95.0% of its net tax result to its CBFI holders on a yearly basis.

• However, a new provision in the tax law, effective as of May 2010, permits organizations with authorized donee status to engage in "unrelated business activities" (LISR Article 80).

• As used herein, the words “hereof”, “herein”, “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of this Agreement, and the word “Section” refers to a Section of this Agreement unless otherwise specified.

• Upon liquidation, these organizations must transfer their assets to other organizations eligible to receive tax-deductible donations (LISR Article 82(V), 83).

• NPOs authorized to receive tax-deductible donations from other countries under the Double Taxation Treaty, however, must not receive an excessive amount of income from leases, interest, dividends, gifts, or activities unrelated to their social purpose (LISR Article 82(1)).

• The main purpose of the Trust is the acquisition or construction of real estate properties in Mexico destined for lease or the acquisition of the right to obtain income from the lease of such real estate properties, as well as to grant financing for such purposes secured by the respective leased real estate properties directly or through trusts (including, without limitation, through Investment Trusts), in accordance with Articles 187 and 188 of the LISR and other applicable tax provisions.

• However, permission for a particular use class will not necessarily mean that the property meets the definition of a pub.

• The LISR and its regulations set forth the requirements for qualifying and registering for the exemption, which is granted by the Tax Administration.

• The general rate for income tax is 30 percent (LISR Article 9).In 2015, tax authorities established in their internal rules specific causes for the withdrawal of the tax exemption.

More Definitions of LISR

LISR has the meaning given in Section 2.6(D).

LISR is to be understood as the Income Tax Law [Ley del Impuesto sobre la Renta - LISR] and its Regulations, as well as applicable Tax Miscellaneous Resolution Rules.