In recent days the “Decree by which the investment of taxpayers that carry out productive economic activities within the Development Poles for the Welfare of the Isthmus of Tehuantepec” (hereinafter the “Decree”) was published in the Official Gazette of the Federation, by means of this decree the Federal Government grants tax benefits and administrative facilities to taxpayers that carry out certain activities in this geographic zone.
In this sense, the Decree defines productive economic activities as those carried out in relation to the following areas: electricity and clean energy, electronics, semiconductors, automotive, transportation equipment, medical devices, pharmaceuticals, agro-industry, machinery and equipment, information and communication technologies, metals and petrochemicals, as well as those activities determined by the Governing Board of the Inter-Oceanic Corridor of the Isthmus of Tehuantepec.
Thus, taxpayers interested in obtaining the tax benefits established in the Decree must have a valid concession title or be owners of an area within the so-called “Poles of Wellbeing Development”, have their tax domicile in the territorial zone of the Isthmus, among others.
What are the Tax Benefits contained in the Decree?
- Income Tax
Application of a tax credit equivalent to 100% of the income tax incurred, during three fiscal years as from the fiscal year in which the taxpayers obtain the concession title mentioned in the preceding paragraphs, 50% in the three subsequent fiscal years or up to the equivalent of 90% in the event that the minimum employment levels are exceeded.
In addition, during six fiscal years, counted from the year in which the aforementioned certificate is obtained, taxpayers may immediately deduct 100% of the original amount of the investment of new fixed assets used in the Welfare Development Centers to carry out their productive economic activities, instead of applying the maximum percentages authorized in the Income Tax Law.
- Value added tax
Application of a tax credit equivalent to one hundred percent 100% of the VAT payable on the sale of goods, provision of services or the granting of the temporary use or enjoyment of goods, which will be creditable against the VAT payable on the activities.
In view of the above, the tax team of Vega, Guerrero & Asociados is at your service to provide you with the corresponding support and advice for compliance with these new tax provisions.
