On October 11, 2023, the “DECREE granting tax incentives to key sectors of the export industry consisting of the immediate deduction of the investment in new fixed assets and the additional deduction of training expenses” was published in the Official Gazette of the Federation; this Decree becomes effective on October 12, 2023, and will be in force until December 31, 2024.
Through the aforementioned Decree, a tax incentive is granted to companies and individuals that obtain at least 50% of their income from the export of goods that they produce, process or manufacture in the following industries: human and animal food, fertilizers and agrochemicals, raw materials for the pharmaceutical industry and pharmaceutical preparations, electronic components, such as simple or loaded cards, circuits, capacitors, condensers, resistors, connectors and semiconductors, coils, transformers, harnesses and modems for computer and telephone, machinery for watches, measuring, control and navigation instruments, and electronic medical equipment, for medical use, materials, accumulators, batteries, electrical conduction cables, plugs, contacts, fuses and accessories for electrical installations, gasoline, hybrid and alternative fuel engines for cars, vans and trucks, electrical and electronic equipment, steering systems, suspension, brakes, transmission systems, seats, interior fittings and stamped metal parts for cars, vans, trucks, trains, ships and aircraft, internal combustion engines, turbines and transmissions for aircraft, non-electronic equipment and apparatus for medical, dental and laboratory use, disposable medical supplies and optical articles for ophthalmic use.
Investments
In this sense, the incentive consists of opting to make the immediate deduction of the investment in new fixed assets acquired as of the effective date of this decree and until December 31, 2024, deducting in the year in which the investment is made the amount resulting from applying to the original amount of the investment, only the percentages established in Article Two of this decree, instead of those indicated in Articles 34, 35 and 209, paragraphs B and C of the Income Tax Law, as applicable.
Training
In addition, taxpayers will be able to apply in the annual tax return for the fiscal years 2023, 2024, and 2025, an additional deduction equivalent to 25% of the increase in the expenses incurred for training received by each of their employees in the fiscal year in question.
Derived from the above, the tax team of Vega, Guerrero & Asociados remains at your disposal to provide the corresponding support and advice for compliance with these provisions in tax matters.
