Fiscal incentives for nearshoring will encourage competitiveness in the country: Concamin – El Sol de México

The fiscal incentives that the Ministry of Finance and Public Credit (SHCP) will give to foreign companies that establish themselves in Mexico as part of relocation or nearshoring, will encourage investments and competitiveness in the country, indicated the Confederation of Industrial Chambers (Concamin ).

However, he requested that these tax benefits be given to more sectors, since the decree published in the Official Gazette of the Federation (DOF) considers companies in the semiconductor, automotive, electrical and electronics, medical devices and pharmaceutical industries, agroindustry, human and animal nutrition, as well as the film and audiovisual industry.

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The organization, led by Jose Abugaber, considered that the decree published this morning in the Official Gazette of the Federation (DOF) will improve the position of companies to increase their productivity and competitiveness at an international level.

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“With these actions, the Government of Mexico shows clear signs of commitment to the industrial policy that the country needs to capitalize on the situation, which translates into more economic growth, job creation and well-being for the population,” the confederation stated in a statement. release.

According to the decree, tax incentives imply an immediate deduction of Income Tax (ISR) that varies between 56 and 89 percent for investments made by these companies, such as the acquisition of new equipment or industrial machinery.

In addition, an additional 25 percent deduction was established for three years for worker training expenses, focusing on the development of human capital, as long as they are linked to technical or scientific knowledge related to the taxpayer’s activity.

According to the publication in the DOF, all stimuli will be valid for the fiscal years 2023 and 2024.

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“With this decree, we will be able to consolidate our position as the main trading partner of the United States and take firm steps to build the most competitive region in the world,” the organization said.

2023-10-11 19:07:51
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