AMLO signs decree to lower VAT and taxes on the northern border

The decree contemplates the reduction of VAT, the ISR and the price of fuel.

The decree of fiscal stimuli for the northern border, which includes the reduction of VAT, ISR and fuel prices was signed in Monterrey by President Andrés Manuel López Obrador.

In this way, VAT is reduced from 16 to 8 percent and ISR decreases to 20 percent. The signed agreement will come into effect on January 1, 2019.

In his visit to Monterrey where he formalized the program of the Ministry of Economy, López Obrador explained that the municipality of Anáhuac – some 200 kilometers north of the entity – will be one of the most benefited by these incentives, and at the same time will host a public university.

The objective is to attract investment and generate more jobs that are better paid. It also announced federal support for Nuevo León with an increase of 11.4 percent by 2019, compared to 2018.

Established the commitment to support the maintenance of the penitentiary centers, the construction of the Libertad dam and the purchase of wagons for Line 3 of the Metro. These resources had already been partially contemplated, but, he added, the figures will be expanded.

He made an acknowledgment to Governor Jaime Rodríguez Calderón: “The Governor has always acted with responsibility and respect and we have achieved a good understanding, we have not had differences and I appreciate that very much and I recognize it.”

The support of 250 million pesos for the purchase of wagons of Line 3 of the Metro are safe and the amount will be increased, the promise was emphasized, while 386 million pesos are destined for the Presa Libertad, which will provide water to the metropolitan area.

In health, 700 million will be invested in improving facilities of the ISSSTE and the IMSS.

Source: Notimex

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