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President Vicente Fox has unveiled a set of tax breaks aimed at encouraging greater investment in Mexico's property and transport sectors. The decree, issued on Wednesday, allows taxpayers to consider only 25% of dividends or profits as taxable, provided they are invested in the acquisition of fixed assets.
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Mexico's President Vicente Fox announced on January 26, 2005, that the country's economy had grown by 6% in the previous year, marking a significant achievement. Fox emphasized the importance of reaching the 7% GDP growth target he had set during his 2000 electoral campaign, which he
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Mexico's tourism industry is expecting a boost in revenue and visitor numbers in 2005, thanks to intensified global advertising and promotional efforts. According to the Mexican Tourism Promotion Board (CPTM), the sector is expected to welcome 21.6 million foreign visitors, a 5.36% increase from the previous
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The National Association of Self-Serve and Department Stores (ANTAD) in Mexico has predicted that the retail sector will not invest around US$500 million this year due to tax reforms that have removed deductions for spending on inventories from the Income Tax (ISR) system. Vicente Yanez, head of ANTAD, has
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In a move aimed at easing the financial burden on redundant workers, Mexican President Vicente Fox has exempted them from paying Income Tax (ISR) on their unemployment compensation, provided they invest it in social enterprises. This new law, published in the official government gazette Diario Oficial de la Federacion, applies
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The Secretariat of Economy (SE) has announced the maintenance of the tariff-rate quota on milk, both powdered and tablet form, for members of the World Trade Organization (WTO). This decision is part of a new set of regulations, implemented via decree, which modify and update various sections of the Tariff
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The states of Sinaloa, Baja California, and others are leading the way in Mexico's agricultural and fishing exports, with Sinaloa accounting for over 50% of national vegetable exports and generating over US$1.25 billion in revenue annually. These states have developed significant industries in viniculture, fishing, and
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The Mexican government's decision to lower electricity rates for residential and industrial users may provide a temporary boost to the industrial sector, but it falls short of addressing the country's long-term competitiveness issues, according to the Center of Private Sector Economic Studies (CEESP). While the measures
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In a remarkable turn of events, Petroleos Mexicanos (Pemex) has announced a surplus of $16.62 billion in its trade of crude oil, petroliferous products, petrochemicals, and natural gas between January and November. This surplus marks a year-on-year increase of 28.9%, with exports reaching $21.50 billion and imports
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Chilean President Ricardo Lagos's lobbying for Mexico's entry into the Mercosur trade bloc, alongside other associate members, marks a significant step forward for the union's growth projects. During the XXVII Mercosur Summit in Ouro Preto, Brazil, Lagos emphasized the need for greater integration in
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Mexico's National Chamber of the Clothing Industry (CNIV) is set to collaborate with the federal government to launch a mechanism to challenge what they deem as unfair trade practices by China, specifically the dumping of Chinese textiles and clothing on the US market. The CNIV president, Tony Kuri,
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Mexico's Treasury Secretariat (SHCP) plans to reduce prices and import tariffs for key goods such as sugar, fuel oil, electricity, steel, LP gas, and cement in 2005, aiming to improve competition among companies and inflation expectations. These measures are expected to counterbalance the inflationary pressures caused by state-controlled
