Mexico issued a decree on Wednesday to boost investments by the so-called “nearshoring”, granting tax benefits to companies that move their operations to the country, mainly in the export industry.
Treasury Undersecretary Gabriel Yorio said in a post on social network .
“These incentives are available in all states and municipalities in the country, extending the window of opportunity for one year for interested companies”stated the official.
President Andrés Manuel López Obrador has said Mexico should benefit from steps taken by global industry to reduce dependence on China, but critics argue his administration has been slow to establish clear incentives to encourage investment.
His administration has also fueled uncertainty among investors by seeking to strengthen public sector control over the energy market at the expense of private companies, sparking trade disputes with the United States and Canada.
The benefits, published in the Official Gazette, include accelerated investment deductions of between 56% and a 89% in 2023 and 2024, as well as an additional deduction from 25% for three years for worker training expenses, Yorio said.
Source: Reuters.
Source: Gestion
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