The Secretary of Finance and Public Credit (SHCP) announced the implementation of an ambitious tax cut plan for companies that invest in Mexico during the second term of the 4T. This plan includes a tax reduction that can exceed 90%. The corresponding decree, signed by President Claudia Sheinbaum and published in the Official Journal of the Federation, establishes that companies can deduct between 35% and 91% of their taxes, depending on certain criteria.
The tax cut measure will be in effect until 2030 and will offer differentiated rates according to the economic activity of each company when filing their annual tax return. Additionally, an additional tax deduction equivalent to 25% of the increase in employee training expenses or innovation will be granted. This plan is part of the Mexico Plan, a national strategy aimed at strengthening the national industry, expanding import substitution, generating employment, promoting scientific, technological, and innovative development, and positioning Mexico among the top ten economies in the world.
Among the requirements to access the tax cut are registration in the Federal Taxpayers Registry (RFC), activation of the tax mailbox, and compliance with tax obligations. Interested companies must present an investment project, a collaboration agreement with the Secretary of Public Education in dual education matters, and a compliance certificate issued by the Evaluation Committee to apply for tax incentives, among others.
Regarding companies that will receive a greater tax deduction, it is specified that those dedicated to sectors such as vehicle manufacturing, mining industry, electric transport, and research and technological development, among others, can apply deduction percentages ranging from 67% to 91% in different periods and depending on the type of investment made. The SHCP details specific percentages for different industries, ranging from 72% for heritage properties to 91% for manufacturing, assembly, and transformation of magnetic components for hard drives and electronic cards.
