The government of Claudia Sheinbaum has announced a strategy to simplify the tax burden of Pemex (Petróleos Mexicanos) by introducing a single tax, which will take effect starting in 2025. The president assured that this measure will further capitalize Pemex and that the revenues generated by the oil company will be allocated to its internal functions, avoiding diversions.
According to Sheinbaum, this tax will be related to Pemex's production and will be 30% for crude oil and 11.63% for gas. This decision is part of the austerity strategy presented by the Secretary of Finance, Rogelio RamÃrez de la O, which involves the elimination of subsidiaries and affiliates of the state-owned company.
The government has also announced that it will continue to support Pemex in meeting its financial commitments, which include about 9 billion dollars in debt maturities for the upcoming year and nearly 13 billion for 2026, the year when the peak of maturities will be reached. Additionally, the restructuring of the company's debt is being analyzed.
In the words of the president, the consolidation of this single tax aims to correct the delicate financial situation of Pemex, which has been affected by a high tax burden. The goal is for the company to have more resources for its operations and investments, without these being diminished by income diversions. This new tax will be called the Oil Right for Wellbeing and will represent a significant change in the taxation of the oil industry in Mexico.
