The Mexican government has officially unveiled its "Plan México," which aims to stimulate corporate investment through substantial tax incentives. Announced via a decree signed by President Claudia Sheinbaum and published on January 21, the initiative allocates up to 30 billion pesos to companies engaging in new investments or enhancing their training and innovation efforts.
This program, effective until September 30, 2030, is intended to bolster the country’s economic competitiveness. According to the decree, 28.5 billion pesos is earmarked for tax incentives on new fixed assets, with the remaining 1.5 billion pesos designated for additional deductions on training and innovation expenses.
The law's introduction is aimed at creating favorable conditions for both local and foreign investments. The overarching goal is to stimulate the economy and create job opportunities through enhanced industrial capabilities. By establishing new industrial corridors and well-being hubs, the plan seeks to attract international investors and reinforce national industry.
The decree outlines several key objectives: developing local supply chains, substituting imports with domestic production, and fostering job creation alongside technological development. Specifically, it emphasizes the importance of dual education—a model integrating theoretical and practical learning experiences. To qualify for associated tax benefits, companies must establish partnerships with the Secretariat of Public Education (SEP) to facilitate this educational approach.
"By investing more in training and innovation, companies can deduct up to 25% more of what they invest, which is expected to create more skilled workers and boost competitiveness," said President Sheinbaum when announcing the plan.
The initiative also places substantial emphasis on supporting Micro, Small, and Medium Enterprises (MIPYMES). Of the total 30 billion pesos allocated, at least 1 billion pesos will be set aside for businesses earning less than 100 million pesos annually. This targeted support aims to integrate MIPYMES—crucial contributors to the Mexican economy—into the program effectively.
Further, the Mexican government plans to finance research and development initiatives through this stimulus. This includes backing projects focused on patent development and obtaining certifications to enable Mexican companies to join local and regional supply chains more readily.
To streamline the implementation of the initiative, the government will form an Evaluation Committee. This body will comprise representatives from both the Ministry of Finance and Public Credit and the Ministry of Economy, along with advisors from the Regional Economic Development and Relocation Advisory Council.
The Evaluation Committee is tasked with assessing investment projects, issuing compliance certificates, and ensuring transparency and accountability for all incentives provided. If businesses wish to apply for these fiscal benefits, they need to demonstrate their capacity for fiscal responsibility and declare investments and collaborations with the SEP.
"Companies must be duly registered as federal taxpayers and maintain a positive fiscal history to qualify for the benefits. Those with outstanding tax liabilities or irregularities will be excluded from the incentive program," emphasized finance officials at the announcement event.
Expected outcomes from "Plan México" include improved technical capabilities, stronger local supply chains, and enhanced international competitiveness as the program takes effect. The success is contingent on effectively executing the plan and diligently monitoring its impact on the economy over the ensuing years.
The decree is set to come fully active on January 22, 2025, replacing previous fiscal stimulus measures aimed at sectors within export industries, which previously allowed for immediate deductions on investments and additional training expenditures.
With these targeted actions under "Plan México," the government hopes to transform the economic framework by fostering collaboration between public and private sectors, thereby facilitating sustainable growth across Mexico’s diverse industries.