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SHCP publishes in DOF decree that grants tax benefits to Pemex

The Secretariat of Finance and Public Credit (SHCP) released the decree granting a fiscal stimulus to Petróleos Mexicanos (Pemex), with respect to the pAug ofl right for shared utility (DUC) referred to in article 39 of the Hydrocarbons Revenue Law.

According to what was published in the Official Journal of the Federation (DOF), the tax incentives established in the decree will be applicable for the 2021 fiscal year and will not give rise to any refund, nor will they constitute accumulative income for tax purposes.

The stimulus consists of a tax credit equivalent to the result of multiplying 14 percent to the difference resulting from decreasing the value of the extracted hydrocarbons during the fiscal year in question, including the consumption of these products by Pemex, as well as losses due to spills or burning of said products.

The fiscal stimulus may be credited against the DUC that must be found out in March 2022, in accordance with article 39 of the Hydrocarbons Revenue Law, and may not exceed the amount to be paid in the year, once the payments have been credited. effectively paid provisional amounts of this right corresponding to the year 2021, and compensated the balances in favor that proceed in the terms of the Hydrocarbons Revenue Law.

Likewise, the fiscal stimulus may not exceed the amount of 73 thousand 280 million pesos and it will not be applicable if the annual declaration by the DUC shows a favorable balance.

The decree also establishes a fiscal stimulus to Pemex when it makes monthly provisional payments, consisting of a tax credit equivalent to the result of multiplying the 14 percent difference that results from decreasing the value of the hydrocarbons extracted in the period from the beginning of the year and until the last day of the month to which the payment corresponds.

This fiscal stimulus may be credited against the provisional payment that results in the period to which the DUC payment corresponds. in the terms of article 42 of the Hydrocarbon Revenue Law and may not exceed the amount to be paid in the period in question, once the provisional payments actually paid for this right during the same period have been credited, and the balances in favor of proceeding under the terms of the Hydrocarbons Revenue Law.

In addition, the amount resulting from multiplying the number of months that comprises the period in question should not exceed the quotient of dividing 73 thousand 280 million pesos by 12, without prejudice to the provisions of section I of this article.

The provisions of this article will not be applicable, if the declaration of provisional payment by the DUC shows a favorable balance.

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