Mexico to Cut VAT, Income Taxes for Southern Region, AMLO Says

Mexico’s President Andres Manuel Lopez Obrador said Friday he’ll extend the fiscal support he’s given to northern border towns to 22 towns at the southern border.

• VAT will be cut to 8% from 16% and income tax to be cut to 20% from 30%, and gasoline prices will be adjusted to rates similar to Guatemala, Finance Minister Arturo Herrera said at the same press conference
• The new tax rules take effect at the beginning of 2021
• AMLO is also expanding fiscal support to northern border region through 2024
• Expanded fiscal support includes parts of Quintana Roo, where Chetumal will have ...