The state of Guerrero, Mexico is looking to expand its business relations with foreign countries and investors. The state government knows that the incentive’s objective is to attract foreign direct investment into the sectors that need the economic impulse for job generation, enhance investment and competitiveness between Guerrero’s enterprises. This is why the state has prepared a series of business incetives.
Here are some examples of the incentives that the state of Guerrero will grant any investors that comply with the requirements set forth by the State Economic Development Agency:
I. A discount of 25% to 80% in tax payment - impuesto sobre remuneraciones al trabajo personal - a local tax equivalent to the 2% of the entire payroll in a fixed calendar period which includes salaries, wages, bonuses and deductions, for up to a period of 5 years for growing or new companies.
II. An additional 5% discount in tax payment (impuesto sobre remuneraciones al trabajo personal) for those companies that will employ women (minimum of 40% of its total working force).
III. Another additional 5% discount in tax payment (impuesto sobre remuneraciones al trabajo personal) for companies employing people with physical disabilities.
IV. Additional 5% discount in tax payment (impuesto sobre remuneraciones al trabajo personal) for those companies employing seniors (alt least 5% of it ’s working force).
Title II of the ISR Law, which regulates how legal entities should calculate their taxes, is complex and in many cases there are specific rules for particular situations. Despite this, in this section we briefly describe the procedure. Income tax is calculated by fiscal years which, as a general rule, coincide with the calendar year. The income tax rate is 28 percent. There is also a requirement to make provisional monthly tax payments for the annual tax incurred during the fiscal year.
{mosimage} Mexico has a federal system, copied from that of the United States of America and, just as in all federal systems, there are powers reserved for the Federal Government, powers reserved for the States, and concurrent powers.
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This federal system is also reflected in the ability to impose taxes in Mexico, since in accordance with our Constitution, certain taxes can only be imposed by the Federal Government, others can only be imposed by the States, and others can be imposed by either the Federal Government or the States.
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As a result of the above, tax matters in Mexico can be analyzed from three angles: (a) federal taxes, (b) local taxes, and (c) the international aspect.
Currently, recycling is part of the city's informal economy, carried out by a combination of garbage collectors who separate and sell the goods for their own profit, scavengers who sell materials they find in landfills, nonprofit organizations and companies in the recycling business.
{mosimage}San Luis Potosi has been one of Mexico’s bright spots over the past three years. Although it is a small market, it is home to some of the largest and fastest growing manufacturing companies in the country. San Luis Potosi is centrally located along the NAFTA Highway mid-way between Mexico City and the border and has good access to the major ocean ports on both coasts. The city has abundant industrial land and a dedicated, although slightly under skilled, labor pool. Recent growth has made San Luis an institutional real estate market and its small size does not prohibit it from being considered a tier 1 market in Mexico.
{mosimage}Aguascalientes is a second tier manufacturing market in Mexico. Its location off of the NAFTA Highway makes transportation somewhat difficult both for northbound products and those heading into central Mexico. However, there are some major operations located in the city and the skilled labor force and lower production costs will continue to attract new companies. Nissan is the biggest story in town and has recently attracted some new mid-sized suppliers to the area. We expect this city to grow, but not at a pace comparable to the El Bajio region or cities with better transportation access.
The state of Puebla is known for its natural resources, archeological sites, historical buildings, its gastronomy, and above all, it’s industrial leadership, qualified labor, the innovation of its companies and the State’s commitment to the integral development of all its region.
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