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Mexican Lawmaker Sets Out Tax Plans For SEZs

by Mike Godfrey, Tax-News.com, Washington

25 March 2015


Lourdes Medina Valdés, a member of the Finance Committee of Mexico's Chamber of Deputies, has said that the country should focus on creating special economic zones (SEZs) as a way of boosting economic growth and employment.

She said that the Government needs to find new ways to support economic activity, rather than relying on investment funded by oil revenues. She proposed that Mexico's SEZs should be based on the models adopted in China and India.

According to Valdés's proposal, companies operating in the SEZs would benefit from zero-rated value-added tax (VAT) and exemptions from trade taxes. In addition the income tax rate for individuals would not exceed 12 percent, and companies would be subject to a rate of not more than 16 percent.

Mexico's Secretariat of Finance and Public Credit, Luis Videgaray Caso, said at the end of last year that Mexico intends to establish three special economic zones (SEZs) in the poorest areas of the country. The SEZs, which are likely to be located in the southern states of Guerrero, Chiapas, and Oaxaca, are intended to boost development in those less affluent regions.

TAGS: individuals | Finance | tax | value added tax (VAT) | India | export duty | China | Mexico | import duty | trade | individual income tax | free trade zone

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