What is the value of the UMA?

UMA is the unit to calculate the payment of certain obligations such as fines or personal loans . Therefore, it is important that you know this value in order to determine the payment amounts to date. In this article we will explain what is the value of the UMA in 2020 and in previous years? 

What is the value of the UMA in 2020 and in previous years?

What is the value of the UMA in 2020 and in previous years?

The payment of tax obligations depends on the value of the UMA. There is an increase in the payment of fines and government procedures because this value increases every 12 months . The calculation of this reference uses the previous UMA value and the annual percentage growth based on the INPC.

Next, we present everything you need to know about the value of the UMA, its usefulness, purpose, how to calculate this reference and all its values  from 2016 to 2020.

What is the value of the UMA?

UMA is the acronym for “Unit of Measurement and Update” and refers to the unit of account in pesos to determine the payment of obligations in the states, federal laws and legal provisions arising from these entities.

Currently, UMA replaces the VSM (Times Minimum Wage) with which the calculation for the payment of obligations, personal deductions and Fonavit credits was made. In addition, this value is usually useful for those who want to know when unemployment insurance is charged .

What is the value of the UMA for?

The value of the UMA prevents the increase in the minimum wage of workers from generating an inflationary impact that could increase the value of tax obligations.

The value of the UMA allows the calculation of the VSM mortgage loans , taxes, government procedures, fines and benefits that are calculated in VSM.

Why was the value of UMA created?

The value of UMA was created to separate the minimum wage from increases in certain credits. This due to the annual advance where high debts were added to a balance.

How is the UMA value calculated?

As the seniority premium is calculated for labor settlement in Mexico, the value of the UMA depends on a monthly calculation that is obtained by multiplying the daily value by 30.4 times. While the annual value is calculated by multiplying its monthly value by 12.

What is the value of the UMA in 2020?

In 2020, INEGI established the value of the daily UMA at 86.88 pesos (it increased by 2.83% compared to last year). In this sense, INEGI set the monthly value at 2,641.15 pesos. For its part, the annual value was established at 31,693.80 pesos.

What is the value of the UMA in previous years?

In 2019, the daily value of the UMA was established at 84.49 pesos , the monthly value at 2,568.50 pesos and the annual value at 30,822.00 pesos. In 2018, it was set at 80.60 pesos, 2,450.24 pesos and 29,402.88 pesos respectively.

In 2017 the daily value of the UMA was 75.49 pesos. While the monthly value was 2,294.90 pesos. On the other hand, the annual value was 27,538.80 pesos. Finally, in 2016 the daily value was 73.04 pesos. For its part, the monthly value was 2,220.42 pesos. For the annual value, an amount of 26,645.04 pesos was established .

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