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Mexico Offers Tax Relief To Earthquake-Hit Firms

Friday, September 15, 2017

Mexico's tax agency is to waive tax obligations for businesses impacted by an earthquake in the states of Oaxaca and Chiapas on September 7.

Taxpayers will be exempt from making provisional income tax payments during the months of August through December, and either second and third quarter payments, or third and fourth quarter payments.

Withheld income tax and value-added tax payment obligations will also be eased until the end of the year, and value-added tax refunds will be repaid in no more than ten days.

Businesses acquiring fixed assets will be allowed to claim an immediate 100 percent deduction.