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Executive Summary:
- On October 11, the Decree was announced granting tax incentives to key sectors of the export industry, consisting of the immediate deduction of investment in new fixed assets and the additional deduction of training expenses.
On October 11, 2023, the Decree granting tax incentives to key sectors of the export industry was published in the Official Gazette of the Federation, consisting of the immediate deduction of investment in new fixed assets and the additional deduction of training expenses.
Through this Decree, the Federal Executive grants tax incentives with the following characteristics:
BENEFICIARIES
Legal entities under the general regime and the simplified trust regime, as well as natural persons with business and professional activities, who are dedicated to the production, processing or industrial manufacturing of goods and also export the following goods:
- Products intended for human and animal consumption.
- Fertilizers and agrochemicals.
- Raw materials for the pharmaceutical industry and pharmaceutical preparations.
- Electronic components such as single or charged cards, circuits, capacitors, condensers, resistors, connectors and semiconductors, coils, transformers, harnesses and computer and telephone modems.
- Machinery for watches, measuring, control and navigation instruments, and medical equipment
- electronic, for medical use.
- Batteries, accumulators, cells, electrical cables, plugs, contacts, fuses and accessories for electrical installations.
- Gasoline, hybrid and alternative fuel engines for cars, vans and trucks.
- Electrical and electronic equipment, steering systems, suspension, brakes, transmission systems, seats, interior accessories and stamped metal parts for automobiles, vans, trucks, trains, ships and aircraft.
- Internal combustion engines, turbines and transmissions for aircraft.
- Non-electronic equipment and devices for medical, dental and laboratory use, disposable medical supplies and optical articles for ophthalmic use.
Also included as beneficiaries are taxpayers engaged in the production of cinematographic or audiovisual works, the content of which is protected by copyright under the terms of the applicable regulations, provided that these works are exported.
ASSUMPTION OF APPLICATION
When taxpayers estimate that, during the fiscal years 2023 and 2024, the amount of income from the export of goods or works will represent at least 50% of their total turnover in each fiscal year.
STIMULUS
1. An immediate deduction may be made for investments in new fixed assets acquired from the date of entry into force of the Decree until December 31, 2024, by deducting in the fiscal year in which the investment is made the percentages of the original investment amount established in the Decree by type of asset, which are higher than those indicated in the Income Tax Law (LISR). The excess part of the original investment amount will be deducted in accordance with the terms of the Decree itself.
It may only be applied to investments that taxpayers keep in use for a minimum period of two years immediately following the fiscal year in which their immediate deduction is made, except in certain cases established by law.
Likewise, it will only be applicable in the case of investment in new fixed assets, the acquisition of which is intended for exclusive use for the development of key activities.
It may not be applied to office furniture and equipment, cars powered by internal combustion engines, car armoring equipment or any fixed asset that is not individually identifiable, nor to aircraft other than those used for agricultural aerial spraying.
2. They may also apply in the annual declaration for the fiscal years 2023, 2024 and 2025, an additional deduction equivalent to 25% of the increase (difference with the average expenditure from 2020 to 2022) in the expenditure incurred for training received by each of their workers in the fiscal year in question.
Training is that through which technical or scientific knowledge related to the taxpayer's activity is provided to active workers registered with the Mexican Social Security Institute.
OBLIGATIONS
Those who apply for any of the incentives must comply with the specific rules for each case indicated in the Decree, the general deduction rules established in the LISR, as well as be duly registered in the RFC, have an active tax mailbox, have a positive opinion of compliance with tax obligations, as well as submit a notice within thirty calendar days immediately following the month in which they apply the aforementioned incentives for the first time.
In the event that the amount of income or any of the requirements indicated is not met, the tax, the update and the corresponding surcharges must be paid, in accordance with the applicable legal provisions, and the tax incentives must be cancelled.
EXCEPTIONS
Taxpayers who are on the so-called "SAT blacklists", have insufficiently or unsecured tax credits, are in liquidation, and who have had their use of digital stamps for issuing digital tax receipts online restricted or cancelled will not be able to apply for the incentives.
To find out more details and determine whether it is possible to apply these stimuli, we invite you to contact one of the specialists at Santamarina and Steta, who will be happy to advise you.
