Mexican government will exempt investors in the southeast for 3 years

The Ministry of Economy (SE) announced the tax exemption for up to more than three years for companies that invest in six strategic locations in the mexican southeastwhere President Andrés Manuel López Obrador builds his priority works.

The foregoing was made known through a statement, in which it is indicated that the bidding bases for potential developments in 1,623 hectares in the states of Veracruz and Oaxaca, an area known as the Isthmus of Tehuantepec, where the Interoceanic Corridor that will connect the Pacific with the Atlantic.

Likewise, it was reported that this is part of the beginning of a series of meetings and conferences with the national and international private sector to promote the arrival of investments to the Isthmus of Tehuantepec.

What kind of tax benefits does the Ministry of Economy offer to investors from the southeast?

These first six out of 10 strategic places, also called “development poles”, will be located in industrial warehouses in the state of Veracruz: in Coatzacoalcos I, Coatzacoalcos II, Texistepec and San Juan Evangelista.

Meanwhile, for the southern state of Oaxaca poles will be tendered in Salina Cruz and San Blas Atempa.

Interested parties may benefit from value added tax (VAT) and income tax (ISR) exemptions. For VAT, Buenrostro indicated that its payment may be exempted in transactions for up to four years.

While the ISR may also have a complete exemption during the first 3 years, with the possibility of extending for 3 additional years with a reduction of up to 90 percent, “depending on variables such as the number of jobs created.”

“With the development of the Interoceanic Corridor, Mexico is getting ready to receive the supply chains that will arrive in the coming years as a result of the relocation phenomenon,” said Buenrostro.

As we have mentioned in other informative notes of The Truth News, The bidding rules also indicate that these six strategic places to invest in the southeast of Mexico will be reserved for 11 productive vocations.

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Among these, sectors such as electrical and electronics, semiconductors are estimated; the automotive industry, medical devices, pharmaceuticals and agribusiness.

Likewise, electric power generation and distribution equipment, machinery and equipment, information and communication technologies, metals, and petrochemicals.

With information from the SE and EFE

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