Mexico signals possible amendments to maquiladora tax changes

By Stephen Downer
Correspondent

Published: December 13, 2013 11:38 am ET
Updated: December 13, 2013 11:39 am ET

Related to this story

Topics Public Policy, Mexico

MEXICO CITY — An association representing thousands of maquiladora plants in Mexico says the federal finance ministry has acknowledged the economic benefits for the country of the sector, despite wanting to increase its tax burden.

“We concur with each other regarding the economic and fiscal advantages for the country of the maquilador export model,” the National Council of the Maquiladora & Export Manufacturing Industry (known as Index) said in a Dec. 11 news release.

However, Index said its members and some journalists should not get carried away by the government’s willingness to discuss possible amendments to the so-called Reforma Hacendaria.

Mexico’s two houses of Congress approved the far-reaching law in October. The legislation removed generous tax exemptions that have benefited the maquiladora industry since its inception in 1965, prompting gloom and doom merchants to predict the demise of an industry that employs more than 2 million at 5,000 companies.

The industry is hoping President Enrique Peña Nieto will decree amendments to the law and remove, for example, an obligation to pay value added tax on parts and components imported temporarily.


Comments

Mexico signals possible amendments to maquiladora tax changes

By Stephen Downer
Correspondent

Published: December 13, 2013 11:38 am ET
Updated: December 13, 2013 11:39 am ET

Post Your Comments


Back to story


More stories

Image

Report: Suspected former Nazi with plastic connection collecting Social Security

October 20, 2014 3:52 pm ET

AKRON, OHIO — A one-time plastics executive in Akron is among dozens of suspected former Nazis who have been collecting U.S. Social Security...    More

Image

Dow seeking new ruling on fine

October 16, 2014 6:58 am ET

Dow Chemical Co. has asked the 10th Circuit Appeals Court in Denver to think again about its decision to reject Dow's appeal against a $1.1 billion...    More

Image

$4 billion PE project for North Dakota

October 14, 2014 2:05 pm ET

North Dakota's largest-ever private investment — $4 billion — is being aimed squarely at the plastics industry, polyethylene in...    More

Image

Reshoring trend seen in machine sales for KraussMaffei in US

October 13, 2014 6:00 am ET

So far, 2014 is going really well for machinery major KraussMaffei Group.    More

Image

Plastics firms ramp up production, donations in Ebola fight

October 10, 2014 3:57 pm ET

As health care workers around the world battle the spread of Ebola, plastics processors are doing their part — ramping up production and even gi...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events