As we mentioned in previous tax news, the Mexican Congress
approved the implementation of an additional duty to holders of
mining concessions and assignments for the exploration and
extraction of minerals and substances subject to the Mining Law, by
applying a rate of 7.5% on the difference resulting from decreasing
the income from the transfer or sale of extraction activities (only
if positive), the authorized deductions in terms of the income tax
law.
Likewise, the Mexican Congress approved an additional duty equal
to 50% of the maximum quote established by the Federal Duties Law,
for those concessionaires who do not carry out works and
exploration and exploitation during two consecutive years, in the
first eleven year period, starting from the date of issuance of the
respective concession title. Also, this duty will be increased in a
100% when inactivity takes place in a twelve year period or
afterwards, payable on a semi-annual basis, in both cases.
