Mexico said on Tuesday it will offer holders of undeclared capital abroad tax incentives to bring it home in a bid to lure some $10 billion in investment and steel itself against potential shocks from the incoming Trump administration.
Confirming a Reuters report, the government said it will offer an 8 percent repatriation tax on those funds returning to Mexico in six months, provided they go into investments including fixed assets and property for at least two years.
The 8 percent tax, which is well below Mexico's top income tax rate of 35 percent, must be paid 15 days . . .
This independent news site is supported by subscribers.
Login now, or subscribe today. As a premium subscriber to our independent news site, for as low as .10 cents per day, you'll unlock full news coverage of the events that shape our city, exclusive interviews with local influencers, and in-depth reports that get to the heart of Puerto Vallarta's unique challenges and triumphs, while also learning more about news throughout Mexico that makes a difference. Help us sustain the future of independent journalism in Puerto Vallarta. It's a small market so advertising doesn't make a dent in the costs, but you can help! Subscribe today and become an essential part of the conversation.
Popular posts:
US Authorities Deal a Blow to Cartels in Puerto Vallarta Puerto Vallarta, Mexico - In a significant move to dismantle the financial underpinnings of organized crime, the United States Treasury Department has sanctioned over a dozen companies associated with the Jalisco New Generation Cartel (CJNG). These actions, carried out by the Office of Foreign Assets Control (OFAC), target entities implicated in timeshare fraud schemes across…
New International Flight Routes to Boost Puerto Vallarta’s High Season Puerto Vallarta, Mexico – The Puerto Vallarta International Airport is set to experience a significant boost in its high season traffic with the addition of over 25,000 departure seats this year. In a strategic move to strengthen the influx of visitors, at least three new international routes are planned to be inaugurated in the final…
Six of Mexico’s Top 50 Restaurants of 2023 are in Puerto Vallarta Puerto Vallarta, Mexico - In a remarkable accolade to its vibrant culinary scene, Puerto Vallarta has been named as one of Mexico's premier gourmet destinations. The prestigious recognition comes from the OpenTable platform's latest ranking, "The 50 Best Restaurants in Mexico in 2023," which features six of the city's esteemed restaurants, underscoring Puerto Vallarta's status…
New Military Forces Arrive in Puerto Vallarta to Reinforce Security Puerto Vallarta, Mexico – In a significant move to bolster security in the state of Jalisco, the Mexican government has dispatched a contingent of 2,500 soldiers to the region. Starting from the 29th of November, Puerto Vallarta has witnessed the arrival of these troops, with at least 100 units marking their presence in the city.…
Puerto Vallarta News Brief with Felipe Álvarez for November 28, 2023 https://youtu.be/Tpjdl22e34A Puerto Vallarta (PVDN) – The Puerto Vallarta News Brief covers the top trending stories of the week on Vallarta Daily News and is hosted by Felipe Alvarez. The stories this week. The Jalisco Ministry of Health, responding to increased cases of pneumonia among infants in China, has heightened its surveillance across the region, especially in…
Journalists Attacked by State Police During Protest Coverage in Puerto Vallarta Puerto Vallarta, Mexico - In a concerning turn of events on the afternoon of November 24, state police officers were reported to have attacked journalists covering a demonstration against vehicle verification in Puerto Vallarta. Evaristo Tenorio, a reporter for Tv Azteca, was allegedly assaulted by an officer while filming the arrest of a demonstrator. Despite…
Mexico Initiates ‘Adopt an Axolotl’ Drive to Rescue Endangered Species Puerto Vallarta, Mexico - In a significant move to protect the endangered axolotl, ecologists from Mexico’s National Autonomous University have reinitiated the "Adoptaxolotl" fundraising campaign. This innovative program allows individuals to virtually adopt these unique salamanders for a minimum contribution of 600 pesos (around $35), offering live updates on the adopted axolotl's health. Additionally, donors…
Target Coming to Mexico? Speculations Rise Over Target’s Potential Expansion into Mexico Puerto Vallarta, Mexico - Recent developments have stirred discussions about the American retail giant Target potentially entering the Mexican market, which could reshape the retail landscape dominated by Walmart and Costco. The speculation was ignited following the discovery of job listings for production and distribution managers on LinkedIn, as reported by Mexico Business News. This…
There Will be 350 Pilgrimages in December to Puerto Vallarta’s Our Lady of Guadalupe Puerto Vallarta, Mexico - Father Arturo Arana, a key figure in the religious community of Puerto Vallarta, has officially announced the completion of preparations for the highly anticipated Guadalupe Festival. This year's event is set to witness a significant increase in participation, with over 350 pilgrimages registered, marking a robust resurgence following the challenges posed…- Puerto Vallarta News Brief with Felipe Álvarez for December 1, 2023 https://youtu.be/6d5X8V5wemg Puerto Vallarta (PVDN) – The Puerto Vallarta News Brief covers the top trending stories of the week on Vallarta Daily News and is hosted by Felipe Alvarez. The stories this week. The United States Treasury Department has taken a significant step in dismantling the financial networks of the Jalisco New Generation Cartel. The Office of…
