Mexico Treasury will withdraw tax incentive for premium gasoline Oct 27

From October 27 to November 2, premium gasoline will not enjoy the fiscal stimulus applicable to the IEPS.

The Ministry of Finance and Public Credit ( SHCP ) withdraw from tomorrow’s fiscal stimulus to fuel type Premium, which applies to the special tax on production and services (IEPS). We recommend: Shell will take gas at home In a publication of the Official Gazette of the Federation (DOF), the agency explained that the percentage of the fiscal stimulus applicable to gasoline greater than or equal to 92 octanes (Premium type) will be zero for the period from October 27 to 2 November for the first time in the year.

This means that as of Saturday motorists will have to pay the total IEPS applicable to Premium gasoline, so the price will no longer discount any stimulus and reflect market conditions. For Magna gasoline the stimulus will be reduced from 28.93 to 23.29 percent; that is, from 1,328 to 1,069 pesos, while for diesel it will go from 47.2 to 46.15 percent, or from 2,379 to 2,326 pesos. In the week ending October 26, the price of Magna gasoline was discounted one peso with 328 cents and the next will only deduct a peso with 69 cents. For the diesel, they have discounted 2 pesos with 379 cents and now they will only be 2 pesos with 326 cents.

Source: millenio, Notimex

The Mazatlan Post