Tax benefits decree for Chiapas, Guerrero and Oaxaca | KPMG | MX

Tax benefits decree for taxpayers from Chiapas, Guerrero and Oaxaca

Tax benefits decree for Chiapas, Guerrero and Oaxaca

On January 1, 2015, it was published in the Official Gazette, the Decree by means of which diverse tax benefits are given to taxpayers from Chiapas, Guerrero and Oaxaca.

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In general terms, through the decree a tax incentive in matters of income tax is given for individuals and legal entities that have their tax domicile, agency, branch or any other establishment in Chiapas, Guerrero and Oaxaca, which consists in an additional tax deduction of the original investment amount made in new fixed assets.

 

Specifically, such tax benefit is given to the following categories of taxpayers:

 

  1. Those who work exclusively in agricultural, cattle, forestry and fishing activities and that, in addition, pay taxes in terms of the established in Title II, Chapter VII of the Mexican Income Tax Law (agricultural, cattle, forestry and fishing activities tax regime)
  2. Those who work exclusively in agribusiness activities and that, in addition, pay taxes in terms of the established in Title IV, Chapter II, Section I (individuals with entrepreneurial and professional activities tax regime) of the Mexican Income Tax Law

 

The amount of the additional tax benefitgiven will be equivalent to 25% of the original investment amount made in new fixed assets, which are, those utilized for the first time in Mexico, except furniture and office equipment, automobiles, bullet proof equipment for automobiles, airplanes other than for agricultural spraying or any other fixed asset good that is not individually identifiable.

 

The additional deduction shall be applied in the income tax yearly calculation and for monthly payments, and shall not exceed in any case, the taxable profit amount or the base determined prior to the additional deduction’s application.

 

We must tell that the new fixed assets on which the additional deduction will be applied, have to be exclusively designated to the performance of the aforementioned taxpayers’ activities and to be utilized exclusively and remain permanently within the aforementioned states’ territory.

 

It is important to note that the application of the aforementioned tax incentive will not give place to any refund or compensation different to the ones that would be given if no tax incentive were applied.

 

The decree in question entered into force on the day of its publication and will be in force until December 31, 2018.

 

To get more detail on the publication, click here (in Spanish).

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