Mexico Gazettes Decree Granting Tax Incentives for Hydrocarbon Exploration, Extraction Activities

The Mexican Official Gazette Feb. 13 published a decree granting tax incentives to taxpayers involved in hydrocarbon exploration and extraction activities in Mexico. The decree includes measures: 1) granting a fiscal stimulus in the form of a tax credit equivalent to 100% of the amount of both the shared utility right and the hydrocarbon extraction right for the months of October, November, and December 2023, as well as January 2024, applicable to taxpayers making monthly provisional payments under Article 42 or obligated to pay the right to extract hydrocarbons under Article 44 of the Hydrocarbon Income Law; 2) declaring that ...