Among the most notable aspects are the following:
The Decree grants a fiscal stimulus to (i) legal entities that pay taxes under the general regime of law; (ii) legal entities that pay taxes under the simplified trust regime; and (iii) individuals with business and professional activities, who are primarily dedicated to the production, processing, or industrial manufacturing, as well as the export of certain goods in the following sectors:
- Human and animal food.
- Fertilizers and agrochemicals.
- Pharmaceutical industry.
- Electronic components for computers and telephones.
- Medical use.
- Accessories for electrical installations.
- Engines for cars, vans, trucks, and aircraft.
- Electrical and electronic equipment for cars, vans, trucks, trains, ships, and aircraft.
- Cinematography or audiovisuals.
Taxpayers may choose to apply the fiscal stimulus when they estimate that, during the tax years 2023 and 2024, the amount of their income from exports will represent at least 50% of their total invoicing in each fiscal year.
The fiscal stimulus consists of choosing to make the immediate deduction of the investment in new fixed assets acquired from October 12th, 2023 until December 31st, 2024, deducting in the year in which the respective investment is made, the amount resulting from applying to the original amount of the investment, only the percentages established in the second article of the Decree, instead of those stated in articles 34, 35 and 209, sections B and C of the Income Tax Law.
Taxpayers must maintain the use of the investments for a minimum period of 2 years immediately following the tax year in which the immediate deduction is made and a specific record of said investments is kept.
Taxpayers may make the aforementioned immediate deduction, only in the case of investment in new fixed assets, whose acquisition is intended to be used exclusively for the development of the activities of the key sectors listed above.
Additionally, these taxpayers may apply in the annual tax return for the fiscal years of 2023, 2024 and 2025, a fiscal stimulus consisting of an additional deduction equivalent to 25% of the increase in the expense incurred for training received by each of their workers in the corresponding fiscal year. Training being understood as those that provide technical or scientific knowledge linked to the activity of the taxpayer, provided to active workers who are duly registered with the Mexican Social Security Institute.
Taxpayers who choose to apply the fiscal stimulus described above, in addition to the requirements established in tax legislation regarding investment deductions, must comply with the following:
- Be registered in the Federal Taxpayer Registry and have the tax email-box enabled and register valid means of contact.
- Have an opinion on compliance with tax obligations in a positive sense.
- Submit the corresponding notice in a timely manner.
The Decree, although it offers relevant benefits for certain taxpayers, it is essential to carry out a detailed review and analysis of the specific case, due to the lack of clarity of certain particularities, exceptions and/or requirements that it provides. Those taxpayers who choose to apply the aforementioned fiscal stimulus must prepare and keep all the necessary supporting information and documentation by which they demonstrate that the respective investments and training provided, as the case may be, are closely related to their activities.
If you have any questions regarding the foregoing, please do not hesitate to contact us
Mexico City, October 24th, 2023