- Mexico published a decree on 11 October 2023 providing tax incentives for key export industry sectors and the cinematographic and audiovisual industry.
- The incentives aim to encourage “nearshoring” and promote “creative exports.”
- Key sectors include semiconductor, automotive, electrical and electronics, medical and pharmaceutical device, agroindustry, and human and animal nutrition sectors.
- Incentives include immediate deductions for qualifying investments in new fixed assets and additional deductions for certain training expenses.
- The decree is effective from 12 October 2023, and the immediate deduction is available for qualifying investments made until 31 December 2024.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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