Decree granting tax benefits to specified taxpayers

DOF: 13/02/2024

DECREE granting tax benefits to the taxpayers indicated

At the margin, a seal with the National Coat of Arms, which reads: United Mexican States.- Presidency of the Republic.

ANDRÉS MANUEL LÓPEZ OBRADOR, President of the United Mexican States, in exercise of the power conferred upon me by Article 89, Section I of the Political Constitution of the United Mexican States, based on Articles 31 of the Organic Law of the Federal Public Administration, and 39, Section III, of the Federal Tax Code, and

CONSIDERING

That Articles 25, fifth paragraph, 27, seventh paragraph, and 28, fourth paragraph, of the Political Constitution of the United Mexican States establish that the exploration and extraction of hydrocarbons constitute activities of a strategic nature for the State with a significant impact on the country's economic activity, activities carried out by the Nation, mainly through state-owned productive companies;

That through various decrees, tax benefits have been granted to assignees obligated to pay the fees for shared utility and hydrocarbon extraction, provided for in the Hydrocarbon Revenue Law, which in real terms represented a reduction in the economic burden and, in other cases, measures were adopted to facilitate compliance with their tax obligations. On the other hand, assignees were authorized to pay provisional and monthly payments corresponding to the aforementioned fees in deferred installments, respectively;

That through the Federal Revenue Laws for the fiscal years 2022, 2023, and 2024, the Congress of the Union approved the reduction of the tax burden corresponding to the fee for shared utility provided for in Article 39 of the Hydrocarbon Revenue Law;

That the aforementioned measures are consistent with the National Development Plan 2019-2024, which establishes in its section III. "Economy," the "Rescue of the energy sector," which has as a purpose of strategic importance for the current administration the rescue of Petróleos Mexicanos so that this state-owned productive company returns to operate as a lever for national development, for the benefit of all Mexicans;

That the application of the aforementioned decrees generated benefits in the tax regime of the assignees; however, the level of prices in the hydrocarbon sector internationally has generated effects on their operational performance due to the reduction in allowed deductions under the current tax regime, since for the determination of these, the value of the hydrocarbons extracted in the corresponding fiscal year is considered;

That the assignees have implemented various actions with the aim of maintaining physical investment in hydrocarbon exploration and extraction activities and preventing global economic conditions from deteriorating the country's capacity to generate conditions that allow it to meet hydrocarbon production commitments;

That, with the purpose of continuing support for the hydrocarbon exploration and extraction activity in the country, it is considered necessary to grant tax stimuli that will apply to the assignees obligated to pay the fees for shared utility and hydrocarbon extraction referred to in the Hydrocarbon Revenue Law, and

That the Federal Executive under my charge, in accordance with Article 39, Section III, of the Federal Tax Code, has the authority to grant tax stimuli, I have deemed it appropriate to issue the following

DECREE

Article First. A tax stimulus is granted to the assignees who are obligated to make monthly provisional payments in accordance with Article 42 of the Hydrocarbon Revenue Law, on account of the shared utility right referred to in Article 39 of the aforementioned legislation, corresponding to the months of October, November, and December, 2023, as well as January 2024.

The stimulus consists of a tax credit equivalent to 100% of the amount of the shared utility right corresponding to the months cited in the previous paragraph and can be credited against the same right payable in those monthly periods on account of the annual right corresponding to the fiscal year 2023 and the fiscal year 2024, respectively.

Article Second.

A tax stimulus is granted to the assignees who are obligated to pay the hydrocarbon extraction right referred to in Article 44 of the Hydrocarbon Revenue Law, corresponding to the months of October, November, and December, 2023, as well as January 2024.

The stimulus consists of a tax credit equivalent to 100% of the amount of the hydrocarbon extraction right corresponding to the months cited in the previous paragraph and can be credited against the same right payable in those monthly periods.

Article Third. The tax stimuli established in this decree do not constitute accumulative income for tax purposes nor will they give rise to any refund.

Article Fourth. The Tax Administration Service must issue the general provisions necessary for the application of this decree.

TRANSITIONAL

SINGLE. This decree enters into force on the day of its publication in the Official Gazette of the Federation.

Given at the residence of the Federal Executive Power, in Mexico City, on February 12, 2024.-

Andrés Manuel López Obrador.- Signature.- The Secretary of Finance and Public Credit, Rogelio Eduardo Ramírez de la O.- Signature.

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