TAX STIMULES FOR FUELS CONTINUE FOR 2022, 2023 AND 2024
On December 30, 2020, the “Decree that modifies the various by which tax incentives are established in terms of the tax on production and services applicable to the fuels indicated, published on December 27,” was published in the DOF. 2016 ”.
Although the previous modification of this Decree published on December 31, 2019 established that it would be in force until December 31, 2021, a new modifying decree is issued that aims to extend for the fiscal years 2022, 2023 and 2024 the application of the fiscal stimulus consisting of making adjustments to the IEPS quotas applicable to automotive fuels, to mitigate the effects of volatility in international gasoline and diesel prices and the exchange rate, and thus avoid price increases in real terms.
Also through this decree, the application of the stimulus to reduce fuel prices in border areas is extended for the years 2022, 2023 and 2024, to limit the differences between fuel prices with the region adjacent to the United States from America.
It is worth mentioning that the adjustment to the IEPS quotas for automotive fuels to reduce them was applied for the last time on March 6, 2020, which was prior to the fall in international crude prices, likewise, during the rest of the year. fiscal year 2020, no decrease was made to these fees.
This Decree entered into force on January 1, 2021 and will be in force until December 31, 2024.