Mexico’s Federal Executive submitted the 2025 economic package to the Congress of the Union on 15 November 2024.
This package does not include new taxes or increases to existing ones but adjustments to tax incentives and withholding taxes on interest payments, among other provisions.
Tax incentives
- Tax credits for diesel purchases, applicable against income tax and the special tax on production and services, are maintained for specific purposes, such as machinery used for the production and maintenance of transport vehicles;
- Transport businesses will receive a 50% credit on toll road payments;
- Introducing a new incentive for the Simplified Trust Regime (Resico) for agricultural, livestock, fishing, and forestry;
- Removing incentives for shared utility rights in hydrocarbons;
Withholding tax on interest payments
A 0.5% withholding tax will be applied to interest payments by financial institutions.
Digital tax receipts (CFDI)
The deadline to cancel digital tax receipts (CFDI) has been modified and will now be at the end of the month when annual returns are due.
Other changes
- The revenue law will take effect on 1 January 2025;
- Changes to import and export tax rates have been approved;
- Introduction of a new fiscal scheme, “Petroleum Welfare Duty”, has been proposed for Pemex, which taxes oil at 30% and non-associated natural gas at 11.6264%, applicable to assignees.
