Mexican President Andrés Manuel López Obrador reportedly announced on 27 November that he will be issuing a decree to maintain existing tax breaks provided in northern regions on the border with the United States. This includes extending 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 effe…