Decree Granting Tax Incentives to Key Sectors of the Export Industry Consisting of Immediate Deduction of Investment in New Fixed Assets and Additional Deduction of Training Expenses

DOF: 11/10/2023

DECREE granting tax incentives to key sectors of the export industry consisting of immediate deduction of investment in new fixed assets and additional deduction of training expenses

In the margin, a seal with the National Shield, stating: 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, first paragraph, Section III, of the Fiscal Code of the Federation, and

WHEREAS

That the emergence and parallel development of events with global reach such as the COVID-19 pandemic and geopolitical conflicts generated adverse conditions, which forced companies to reconfigure their processes and optimize their operations to more effectively face the challenges that the global economic environment constantly presents;

That the model of supply chains between companies and third-party production centers known as offshoring faces difficulties, such as interruptions in their functioning and loss of efficiency;

That, in order to avoid interruptions in supply chains and their operations, it is feasible for companies to consider relocating part of their production to destinations near the markets with which they operate, a strategy known as nearshoring; a situation that places Mexico in a favorable condition to be considered an attractive destination for foreign direct investment;

That key sectors of the export industry have been identified with the potential to receive tax incentives, with the objective of maximizing the competitive advantages that our country offers to promote greater productive investment;

That the identification of the key sectors of the export industry has been carried out using four criteria that weigh the magnitude of Mexico's opportunities to integrate into global value chains. Said criteria are: a) high productivity in Gross Domestic Product growth, since the sectors have the necessary competitiveness to meet the increase in demand for products; b) export vocation, since Mexico already has consolidated commercial links; c) impact of the sector on the economy through multiplier effects, and d) increase in demand, given the increase in exports of products from Mexico to the United States of America as a consequence of a potential reduction in commercial flow from other regions;

That, among the key sectors identified are the semiconductor, automotive (especially in electromobility), electrical and electronic, medical devices and pharmaceutical, agroindustry, and human and animal food industries, among others;

That it is pertinent to grant the benefits established in this decree to companies seeking to optimize their operations through the nearshoring strategy and to those companies currently located in Mexico, that belong to the sectors identified as key in the export industry, since this allows companies that are in similar conditions to access said benefits and thus promote competition and investment in strategic sectors, which in turn contributes to the country's economic growth and strengthens Mexico's position in the international context;

That it is convenient to grant the tax incentives referred to in this decree only to exporting companies that belong to the sectors identified as key, since foreign companies may perceive Mexico as a favorable destination to establish their operations and take advantage of the tax benefits granted;

That, by directing tax incentives towards exporting companies, competitiveness, innovation and investment in technology are promoted, which contributes to job generation and attracts foreign direct investment. In addition, export activity increases the inflow of foreign currency to the country and improves the trade balance, which in turn increases the confidence of investors and commercial partners in the country. Thus, the measure seeks to enhance economic growth by leveraging Mexico's potential in key sectors of the export industry;

That the cinematographic and audiovisual industry sector can take advantage of Mexico's privileged geographical position, to promote the production of audiovisual content for its commercialization and consumption in different countries; reason why it is appropriate to include the cinematographic and audiovisual industry within the key sectors that can maximize the competitive advantages offered by the country, with the purpose of promoting the export of the creative industry, which has high potential to consolidate Mexico's recognition as a leader in Latin America in audiovisual productions, as well as to generate economic growth, employment and social development;

That immediate deduction of investments is a fiscal policy instrument that, in addition to promoting investment in the country, increases productivity, boosts competitiveness, generates more jobs and thereby incentivizes economic development and the level of welfare of the population;

That, by virtue of the foregoing, it is convenient to grant a tax incentive consisting of the immediate deduction of investment in new fixed assets used for the development of the activities of the key sectors of the export industry referred to in this decree, instead of applying the maximum authorized deduction percentages established in the Income Tax Law;

That the tax incentive of the deduction will be applicable for investments made from the entry into force of this decree and during the 2024 fiscal year, with the intention of generating immediate results. In addition, a mechanism is foreseen that allows recognizing the immediate deduction in the provisional payments of the income tax of the fiscal year in which the investment is made, thus favoring the cash flow of companies that choose to apply this deduction;

That, in order to facilitate control by the Tax Administration Service, beneficiaries of the tax incentive must keep a specific record of the investments for which the immediate deduction was applied. Said record must include the data recorded in the supporting documentation that backs the investments, the description of the assets subject to the deduction, the percentage corresponding to the deduction, the fiscal year in which it was applied and the date on which the assets are retired from assets;

That the relocation of companies implies the arrival of new technologies to the country, so it is fundamental to promote the development of technical and labor capacities of workers, to have an industry highly qualified in technical and technological terms. With this objective, it is appropriate to grant during the fiscal years 2023, 2024 and 2025 a tax incentive consisting of an additional deduction of 25% applicable only on the incremental base, compared to the average of the expense incurred in the fiscal years 2020, 2021 and 2022 for concept of training, and

That, in exercise of the power established in Article 39, first paragraph, Section III, of the Fiscal Code of the Federation, I have seen fit to issue the following

DECREE

Article One. A tax incentive is granted to legal entities that tax under the terms of Titles II or VII, Chapter XII, of the Income Tax Law, and to individuals that tax in accordance with Title IV, Chapter II, Section I of said law, when these taxpayers are engaged in the production, elaboration or industrial fabrication of the goods indicated below, and also export them:

I.

Products intended for human and animal food.

II.

Fertilizers and agrochemicals.

III.

Raw materials for the pharmaceutical industry and pharmaceutical preparations.

IV.

Electronic components, such as simple or loaded cards, circuits, capacitors, condensers, resistors, connectors and semiconductors, coils, transformers, harnesses and modem for computer and telephone.

V.

Machinery for watches, measurement, control and navigation instruments, and electronic medical equipment, for medical use.

VI.

Batteries, accumulators, cells, electric conduction cables, plugs, contacts, fuses and accessories for electrical installations.

VII.

Gasoline, hybrid and alternative fuel engines, for automobiles, vans and trucks.

VIII.

Electrical and electronic equipment, steering systems, suspension, brakes, transmission systems, seats, interior accessories and stamped metal parts, for automobiles, vans, trucks, trains, ships and aircraft.

IX.

Internal combustion engines, turbines and transmissions, for aircraft.

X.

Equipment and non-electronic devices for medical, dental and laboratory use, disposable material for medical use and optical articles for ophthalmic use.

The tax incentive established in this article is also granted to the taxpayers referred to in the previous paragraph dedicated to the production of cinematographic or audiovisual works, whose content is protected by copyright under the terms of the applicable regulations, provided that these works are exported. For these effects, it is understood that a cinematographic or audiovisual work is exported when the producer in their capacity as holder of the economic rights grants a license or transfers the exploitation rights of the work for its dissemination abroad.

Taxpayers may choose to apply the tax incentive established in this article, when they estimate that, during the 2023 and 2024 fiscal years, the amount of income from the exports of the goods or works referred to in the two previous paragraphs, will represent at least 50 percent of their total billing in each fiscal year. In case the estimate made by the taxpayers is not met, the provisions of Article Six, last paragraph of this decree shall apply.

The incentive consists of opting to make the immediate deduction of the investment in new fixed assets, acquired from the date of entry into force of this decree and until December 31, 2024, deducting in the fiscal year in which the investment is made the amount resulting from applying to the original amount of the investment, only the percentages established in Article Two of this decree, instead of those indicated in Articles 34, 35 and 209, sections B and C of the Income Tax Law, as applicable.

The part of said amount that exceeds the amount resulting from applying the percentage established in Article Two of this decree, will be deductible only under the terms of Article Three, first paragraph, Section III, of this decree.

The provisions of this article will only be applicable regarding those investments that taxpayers keep in use during a minimum period of two immediate years following the fiscal year in which their immediate deduction is made, except in the cases referred to in Article 37 of the Income Tax Law.

The provisions of this article are not applicable in the case of office furniture and equipment, automobiles powered by internal combustion engines, automobile armor equipment, or any non-individually identifiable fixed asset, nor in the case of airplanes other than those dedicated to agricultural crop dusting.

For the effects of this article, new assets are considered those that are used for the first time in Mexico.

For the effects of Article 14, Section I, of the Income Tax Law, taxpayers who in the 2023 or 2024 fiscal year apply the immediate deduction of investment in new fixed assets established in this decree, must calculate the profit coefficient of the provisional payments that are made during the 2024 or 2025 fiscal year, adding the taxable profit or reducing the tax loss of the 2023 or 2024 fiscal year, as applicable, with the amount of the deduction referred to in this article.

The taxable profit determined under the terms of Article 14, Section II, of the Income Tax Law, may be decreased with the amount of the immediate deduction made in the same fiscal year under the terms of this article. The aforementioned amount of the immediate deduction must be decreased in equal parts in the provisional payments corresponding to the fiscal year in question, starting from the month in which the investment is made. This decrease must be made in the provisional payments of the fiscal year in an accumulative manner. For the effects of this paragraph, the profit coefficient determined under the terms of Article 14, Section I, of the Income Tax Law may not be recalculated.

Taxpayers must keep a specific record of the investments for which the option to apply the immediate deduction was chosen under the terms of this article, which contains the supporting documentation that backs them, describes the type of asset in question, the relationship with its business or main activity, the process or specific activity in which the asset was used, the percentage that corresponded to it for deduction purposes, the fiscal year in which the deduction was applied and the date on which the asset is sold, lost due to fortuitous case or force majeure or ceases to be useful.

For the effects of Article 5 of the Value Added Tax Law, the immediate deduction established in this decree is considered as a fully deductible expenditure, provided that the requirements established in the Income Tax Law are met.

Article Two. The percentages that may be applied to deduct the investments referred to in the previous article, are the following:

I.

Maximum authorized percentages by type of asset:

a)

86% for automobiles, buses, cargo trucks, tractotrucks, forklifts and trailers, whose propulsion is through rechargeable electric batteries, electric motor that also have electric combustion motor or with motor powered by hydrogen.

b)

86% for airplanes dedicated to agricultural crop dusting.

c)

88% for personal desktop and portable computers, servers, printers, optical readers, plotters, barcode readers, digitizers, external storage units and computer network concentrators.

d)

89% for dies, molds, matrices and tooling.

e)

89% for machinery and equipment directly intended for the research of new products or development of technology in the country.

II.

For machinery and equipment other than those indicated in the previous section, the following percentages must be applied, according to the key activity in which they are used:

a)

56% in the construction of facilities for the design, fabrication, manufacture, assembly, testing, advanced packaging or research destined to semiconductors and packaging of electronic components and semiconductors.

b)

56% in the manufacture of pharmaceutical medicines, pharmaceutical use antiseptic products, substances for diagnosis, of tablets, capsules or pharmaceutical solutions and injectable assets.

c)

56% in the manufacture of electronic microscopes, electronic medical equipment, instruments and equipment for laboratory, equipment for analysis, testing and laboratory tests, diagnostic and radiotherapy equipment, pacemakers or hearing aids for deafness and other implant devices.

d)

72% in the manufacture of chemical products or in the manufacture of materials used in the fabrication, manufacture, assembly, testing and packaging of electronic components and semiconductors.

e)

76% in the manufacture of machinery and equipment dedicated to the design, fabrication, manufacture, assembly, testing and packaging of electronic components and semiconductors, in categories such as deposition, thermal processing, oxidation and diffusion, lithography, photoresist processing, cleaning and removal of materials, doping equipment, metrology and inspection, manufacturing automation, test equipment and related, assembly and packaging equipment for the manufacturing process of the electronic components and semiconductors industry.

f)

76% in the design, fabrication, manufacture, assembly, testing and packaging of electronic components, such as simple or loaded cards, circuits, capacitors, condensers, resistors, connectors and semiconductors, coils, transformers, modem for computer and telephone, and harnesses.

g)

80% in the construction and assembly of sets in forums and locations for recordings and photography.

h)

80% in the investment in audio and video post-production equipment and facilities and visual effects, computer equipment for animation and audio and video post production, equipment for the elaboration of costumes for props and special ambient equipment.

i)

83% in the manufacture, assembly and transformation of magnetic components for hard drives and electronic cards, substrates, semiconductor packaging technologies, mechanical inputs (plastic or metal), printed circuit boards, graphic cards, solid state units, mounting of printed circuit boards, power supplies/adapters, batteries for electronic equipment and liquid crystal screens for the computing industry.

j)

83% in the investment in visual or sound recording equipment in any form, professional lighting equipment for recordings and photographs.

k)

86% in the manufacture, assembly and transformation of batteries for automobiles, vans, trucks, trains, ships and aircraft, provided that all these vehicles are electric.

l)

86% in the manufacture of automobiles, vans, trucks, trains, ships and aircraft, whose propulsion is through rechargeable electric batteries, electric motor that also have electric combustion motor or with motor powered by hydrogen.

m)

86% in the manufacture of gasoline, hybrid and alternative fuel engines for automobiles, vans and trucks.

n)

86% in the manufacture of electrical and electronic equipment, steering, suspension and brake systems, transmission systems, seats and interior accessories, and stamped metal parts, for automobiles, vans, trucks, trains, ships and aircraft.

o)

88% in the production of products intended for human and animal food, referred to in Section I, of Article One of this decree, as well as food production lines, boilers and water deposits.

In the event that taxpayers are engaged in two or more activities indicated in this section, the percentage corresponding to the activity in which they had obtained the largest part of their income in the fiscal year in which the immediate deduction of the investment is applied must be applied.

Taxpayers will make the immediate deduction established in this decree, only in the case of investment in new fixed assets, whose acquisition has as its purpose its exclusive use for the development of the key activities referred to in this decree.

Article Three. Taxpayers who exercise the option established in Article One of this decree, for the assets to which they applied it, must adhere to the following:

I.

The original amount of the investment may be adjusted by multiplying it by the update factor corresponding to the period comprised from the month in which the asset was acquired and until the last month of the first half of the period that elapses from when the investment was made and until the close of the fiscal year in question.

The product that results according to the previous paragraph, must be considered as the original amount of the investment to which the percentage referred to in the previous article is applied for each type of asset.

II.

Gain obtained from the disposal of the assets is considered the total of the income perceived for the same.

III.

When the assets are disposed of, lost or cease to be useful, a deduction may be made for the amount resulting from applying, to the original amount of the investment adjusted with the update factor corresponding to the period comprised from the month in which the asset was acquired and until the last month of the first half of the period in which the deduction indicated in Article One of this decree has been made, the percentages that result according to the number of years elapsed since the deduction of the cited article was made and the percentage of immediate deduction applied to the asset in question, according to the following:

Taxpayers referred to in Article One of this decree, who make investments in fixed assets by type of asset referred to in Article Two, Section I, of this decree, must apply the following table:

Taxpayers referred to in Article One of this decree, who make investments in machinery and equipment other than those indicated in Article Two, Section I, of this decree, must apply the following table, according to the percentage that corresponds to the activities referred to in Section II of the cited Article Two:

For the effects of this article, when the number of months of the period referred to in Sections I and III of this article is odd, the last month of the first half must be considered as the month immediately prior to the one corresponding to half of the period.

Article Four. Taxpayers referred to in Article One of this decree, may apply in the annual declaration of the 2023, 2024 and 2025 fiscal years, a tax incentive consisting of an additional deduction equivalent to 25% of the increase in the expense incurred for concept of training that each of their workers receives in the fiscal year in question. For these effects, the increase will be the positive difference between the expense incurred for concept of training in the fiscal year in question and the average expense that the taxpayer has incurred for the same concept in the 2020, 2021 and 2022 fiscal years, averaging even when in said fiscal years no expense has been incurred for concept of training.

The training referred to in this article shall be that which provides technical or scientific knowledge linked to the taxpayer's activity.

For these purposes, the additional deduction shall only be applicable regarding training provided by taxpayers to their active workers registered with the Mexican Social Security Institute.

Taxpayers who do not apply the additional deduction established in this article in the fiscal year in which they incur the expense shall lose the right to do so in subsequent years.

The tax incentive established in this article shall not be cumulative for the purposes of the Income Tax Law.

Taxpayers must carry out the specific registration of the training granted to workers under the terms of this article and indicate the supporting documentation that backs them, as well as specifically describe what said training consisted of and the relationship it bears with one of the activities established in Article First of this decree.

Article Fifth. Taxpayers who meet the following conditions may not apply the tax incentives provided for in this decree:

I. Are situated in any of the assumptions established in Article 69, second-to-last paragraph, of the Federal Fiscal Code and whose name, denomination or corporate name and key in the Federal Taxpayer Registry are contained in the publication on the Internet page of the Tax Administration Service referred to in the last paragraph of the cited article.

II. Do not disprove the presumption established in Article 69-B, first paragraph, of the Federal Fiscal Code and, therefore, are definitively in said situation in terms of the fourth paragraph of said article. Likewise, it shall not be applicable to taxpayers who have a partner or shareholder who is in the presumption assumption referred to in this section.

Nor shall the tax incentives provided for in this decree be applicable to those taxpayers who have carried out operations with taxpayers referred to in this section and have not accredited before the tax authorities that they effectively acquired the goods or received the services covered by the corresponding digital tax receipts.

III. The presumption established in Article 69-B Bis of the Federal Fiscal Code has been applied to them, once the list referred to in said article has been published in the Official Gazette of the Federation and on the Internet page of the Tax Administration Service.

IV. Have firm tax credits, or that when exigible, are not guaranteed or that the guarantee turns out to be insufficient.

V. Do not comply with any of the requirements established in this decree, among them the specific registrations of investments and training referred to in this decree.

VI. Are in the process of liquidation.

VII. Are in the procedure of temporary restriction of the use of digital seals for the issuance of digital tax receipts over the Internet, in accordance with Article 17-H Bis of the Federal Fiscal Code.

VIII. Have cancelled the certificates issued by the Tax Administration Service for the issuance of digital tax receipts over the Internet, in accordance with Article 17-H of the Federal Fiscal Code.

Article Sixth. Taxpayers who apply the tax incentives referred to in this decree must comply, in addition to the requirements established in tax legislation regarding deduction of investments, with the following requirements:

I. Be registered in the Federal Taxpayer Registry and have the tax mailbox enabled, as well as register valid contact means in terms of Article 17-K of the Federal Fiscal Code.

II. Have an opinion on compliance with tax obligations referred to in Article 32-D of the Federal Fiscal Code, in a positive sense.

III. Submit a notice in which it is stated that they opt for the application of the tax incentives referred to in this decree, which they must submit during the thirty calendar days immediately following the month in which they apply said incentives for the first time.

Taxpayers may only apply the tax incentives established in this decree when they submit the notices in time and form.

Taxpayers who have applied the incentives of this decree and fail to comply with the requirements established therein must cover the tax, the update and the corresponding surcharges, in accordance with the legal provisions that proceed, and the tax incentives must be rendered without effect.

Article Seventh. The Tax Administration Service may issue the general rules necessary for the due and correct application of this decree.

TRANSITORY

Sole. This decree shall enter into force the day following its publication in the Official Gazette of the Federation.

Given at the residence of the Federal Executive Power, in Mexico City on October 10, 2023.- Andrés Manuel López Obrador .- Rubric.- The Secretary of Finance and Public Credit , Rogelio Eduardo Ramírez de la O .- Rubric.

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