Mexico has published the decree announced in November 2020 to update and extend existing tax break incentives provided in northern regions on the border with the United States. This includes the extension of the following to 31 December 2024:
- An income tax credit equal to 1/3 of the tax due for a period, which effectively reduces the corporate income tax rate from 30% to 20%; and
- A 50% VAT credit that can be applied directly at the time of a transaction and effectively reduces the VAT rate …