The tax incentives, which provide for tax deductions from 56% to 89% on investments made in 2023 and 2024, are intended for companies that are dedicated to both the production and export of 10 items.
Mexico Offers Tax Incentives to Entice Nearshoring Investors
- The government decree applies to 10 sectors, including batteries
- Tax relief on fixed investments lasts until end of 2024
Mexico is offering large tax breaks to a swath of industries in a government decree published Wednesday, aiming to capitalize on a nearshoring trend that has seen companies pile into the country.
The incentives cover 10 sectors, including semiconductors, electronic components, batteries, motors, fertilizers, and pharmaceuticals, Deputy Finance Minister Gabriel Yorio.