Although said loss is offset by additional income from oil exports -which went from 47.12 dollars to 103.71 dollars per barrel- estimated at 664,000 million pesos for this year, “part of the oil income is Pemex’s own and they do not sign part of the overall bag from the federal government,” said Adrián Gómez, CIEP’s revenue and tax coordinator.
Derived from the increase in oil prices worldwide, the Mexican government, through the Ministry of Finance, announced that this week it applies the 100% incentive for gasoline and diesel .
For the week of March 12 to 18, the discount per liter of Magna gasoline for the Special Tax on Production and Services (IEPS) will be 5.4 pesos, for Premium 4.6 pesos, and for diesel 6.03 pesos.
In addition, it grants a tax incentive to refiners and importers, so that they credit it against the ISR or VAT for each liter sold, of 3.8 pesos for Magna gasoline; 2.7 pesos per liter for Premium and 5.2 pesos per liter for diesel.
The Russian invasion in Ukraine has triggered oil prices and impacted the price of gasoline in Mexico, in view of this the government has reduced the tax burden that is included in the consumer prices of fuels, so resources stop arriving to the public treasury. alerted the IMEF this Tuesday.
“The problem is that the subsidy can be maintained for some time, and oil prices are not going to drop soon, we are going to have a whole year with pressure, and this is going to put pressure on public finances, as long as the decision to give this subsidy is maintained, there will be a need to resort to other types of cuts in spending ”, said Mario Correa, president of the National Committee for Economic Studies of the IMEF.
