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Mexico To Soon Set Fixed Gasoline, Diesel Tax Rates

by Mike Godfrey, Tax-News.com, Washington

29 October 2015


Mexico's Secretariat of Finance and Public Credit (SHCP) announced on October 26, 2015, that the tax regime for gasoline and diesel will be adjusted next year.

Under the plan, the rate of the Special Tax On Production and Services (IEPS) applicable to gasoline and diesel will be fixed on an annual basis. Currently the rate varies from month to month.

The SHCP dismissed reports that it plans to create new taxes on gasoline or increase existing ones. It pointed out that gasoline and diesel have been subject to the IEPS for two decades. The Secretariat also said no significant reforms affecting the price of gasoline and diesel will take place between now and December 31, 2015.

TAGS: Finance | tax | economics | fiscal policy | Mexico | oil and gas | tax rates | tax reform | Tax

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