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Companies covered by this program may import raw materials, containers and packaging materials, fuel, spare parts, machinery and equipment to produce their goods, without paying dutiesor value added tax. |
spare parts, machinery and equipment may be imported without paying duties or value added tax. depending on the materials imported. A minimum 10% of foreign sales or an amount equivalent to 500,000 US dollars per year, to be able to import raw materials used in exported goods under the above terms. A minimum 30% of sales must be allocated for exports in order to benefit from the corresponding tax exemption on machinery and equipment imports. |
For indirect exporters, documentation of exports issued by a maquiladora company, PITEX and/or any Foreign Trade Company. The term will be counted from the day of document issuance. |
| During the first or second year
of operations, companies may choose a one-time depreciation deduction for
their fixed assets instead of a deduction over the life of each asset.
This option excludes, except for investments in industrial bays, companies located in Mexico City and surrounding areas, Guadalajara and Monterrey. Purchased automobiles, transportation and office equipment (not including computer equipment and devices) are also excluded. The immediate depreciation rate for industrial bays is 62%. For machinery and equipment the rate ranges between 62% and 100%, depending on the sector |
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| Companies which hire more workers
in 1998 than the average level recorded for the first ten months of 1997
will obtain a tax credit for the new jobs which may be used against income
or asset taxes.
Fiscal measures will also be implemented to encourage the creation of new jobs in the automobile industry and related sectors. |
Companies investing in 1998 more than during the first ten months of 1997 will be permitted to deduct from their tax burden for 1998 up to 100% of the difference between the two amounts. | Companies which present their financial statements for certification will be able to deduct their income tax from other taxes. |
| The Mexican Bank for Foreign Trade (Bancomext)
and Nacional Financiera may participate on a temporary basis, and with
a minority ownership, in investment projects of foreign companies.
Once the project is in full progress, the corresponding development bank withdraws from the partnership and sells its stocks at a price agreed upon on the initial contract, to the charter partners or to others. Bancomext provides venture capital resources mainly for foreign currency generating projects. |
| To bring in foreign investments, some
state governments may grant reduced pricing on land owned by them,
depending on the benefits expected.
Also, some states offer to contribute to payroll expenses during labor training periods. |
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