Mexico Offers Tax Incentives to Entice Nearshoring Investors
- Government decree applies to 10 sectors, including batteries
- Tax relief on fixed investments lasts until end of 2024
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Mexico is offering large tax breaks to a swath of industries in a government decree published Wednesday, aiming to capitalize on a nearshoring trend that has seen companies pile into the country.
The incentives cover 10 sectors, including semiconductors, electronic components, batteries, motors, fertilizers and pharmaceuticals, Deputy Finance Minister Gabriel Yorio wrote on social media.