# Payment of taxes, infractions, benefits and mortgage loans

According to the GFI, the UMA (Unit of Measurement and Update) is the economic reference in pesos that determines the payment of the obligations established in federal laws and federal entities, as well as in the legal provisions that derive from them.

In other words, the UMA is the reference that determines the payment of taxes, infractions, benefits and mortgage loans. For example, the cost of a fine increases proportionally according to the value of the UMA.

## Calculate the monthly value of the UMA

To calculate the monthly value of the UMA, the daily value is multiplied by 30.4 times, while the annual value is obtained by multiplying the same daily value by 12. For this year, the UMA has a daily value of \$ 84.49, which is equivalent at \$ 2568.50 monthly and \$ 30822.00 annual. This adjustment represents an increase of \$ 3.89 per day compared to the previous year.

## Calculate the increase in taxes and mortgages

Until a few years ago the minimum wage was used as a measure to calculate the increase in taxes and mortgages. However, in 2016 the UMA was created to replace the previous indicator known as Minimum Wage Times. The great advantage of the UMA is that its value is not determined by inflation, so it represents a benefit for taxpayers most of the time.

How does the value of UMA affect your personal finances? The annual adjustment of the UMA, which has just entered into force in February, represents a change in the payment of certain obligations. Next, we list some of the concepts that undergo changes as a result of the adjustment of the UMA:

– Payment of fines Violations for non-compliance with the road regulations will increase, equivalent to 4.83%. Remember that the amount of fines may vary from one federative entity to another, however, the value of the UMA is the same for the entire country.

– Credits One of the reasons for eliminating the VSM scheme was the impact that the credits suffered each time an adjustment was made to the minimum wage. This year, for example, there was a 16.02% increase in the minimum wage, which would have been a major blow to mortgage loans. However, when calculated with the UMA, credits only increased 4.83% this year.

– Pension Previously, pensions were calculated with the minimum wage. With the introduction of the UMA, annual adjustments began to be made with this measure, so the increase in pensions for people in retirement has been smaller.

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