On 5 June 2023, the “Decree that encourages investment by taxpayers who carry out productive economic activities within the Development Poles for the Wellbeing of the Isthmus of Tehuantepec” was published in the Official Gazette of the Federation, which provides fiscal incentives to taxpayers who carry out productive economic activities within the Development Poles for Wellbeing.
What is the objective of this Decree?
To promote a new model of economic growth for the benefit of the entire population of the Isthmus of Tehuantepec, through new investments in (*) industrial activities that encourage investment in the installation of new production plants that detonate the economic growth of the region.
*Economic activities:
- Electrical and electronics
- Semiconductors
- Automotive (electromobility)
- Auto parts and transport equipment
- Medical devices
- Pharmaceuticals
- Agribusiness
- Electric power generation and distribution equipment (clean energies)
- Machinery and equipment
- Information and communication technologies
- Metals and petrochemicals
- Any other not included in the previous fractions as determined by the Governing Board of the Interoceanic Corridor of the Isthmus of Tehuantepec for the Poles of Development for Well-being.
Requirements that must be met in order to obtain tax benefits:
1.To be up to date in the fulfilment of their tax obligations.
2.Have a valid concession title or be the owner of an area within a Development for Well-being.
3.Present the investment project for which the concession title referred to in the previous section was granted.
4.Have a tax domicile in the Welfare Development Pole where they carry out their productive economic activities.
The most relevant tax incentives contemplated in the decree:
–A tax credit equivalent to 100% of the Income Tax caused, during three fiscal years counted from the one in which the taxpayers obtain the certificate issued by the Ministry of Finance and Public Credit, and will be equivalent to 50% of the Income Tax in the three subsequent fiscal years or up to equivalent to 90% in case of exceeding the minimum levels of employment, in the terms of the guidelines determined by the Ministry of Finance and Public Credit.
–Taxpayers who obtain the certificate issued by the Ministry of Finance and Public Credit can make an immediate deduction of 100% of the original amount of the investment of new fixed assets that they use in the Welfare Development Poles to carry out their productive economic activities. New assets are considered to be those used for the first time in Mexico.
–A tax credit equivalent to 100% of the Value Added Tax to be paid for the alienation of goods, the provision of independent services or the granting of the temporary use or enjoyment of goods, for four years from the entry into force of this decree and will be creditable against the tax to be paid for the aforementioned activities.
Registration of interested parties:
The form available at https///www.gob.mx/ciit may be submitted by emailing polosdesarrollo@ciit.gob.mx, from June 26 to June 30, 2023.
Orientation session:
On July 26 and 27, 2023, a session will be held with interested and registered persons in order to provide general information concerning the bidding procedure.
Participant’s certificate:
May be requested in writing from July 31 to August 4, 2023, presenting proof of payment.
The Interoceanic Corridor of the Isthmus of Tehuantepec can promote the necessary actions before the federal and municipal entities to ensure that they provide tax incentives and facilities to people who carry out productive economic activities within the Welfare Development Poles.
