EconomyHow the gasoline subsidy reduced fuel smuggling in Mexico

How the gasoline subsidy reduced fuel smuggling in Mexico

In addition to containing inflation in Mexico, the non-collection of the Special Tax on Production and Services (IEPS) on fuels is the main reason for the reduction in fuel smuggling reported at the end of June, according to figures from the Tax Administration Service. (SAT), by Raquel Buenrostro, released this Wednesday.

In the period from January to June, the SAT reported the entry of 26.4 million barrels of stolen and smuggled fuel, that is, 43% less than the 47 million reported in the first half of 2022.

The decrease is mainly due to the fiscal incentives that the federal government gives to gasoline and diesel, by not charging the IEPS in its final price, and giving additional fiscal incentives to importers, refers to the Tax and Management Report of the second quarter of the SAT .

“Not only are imports not paying IEPS, but the corresponding complementary stimulus is being returned per liter sold directly by the importer, which eliminates the incentives for technical and crude smuggling activity that focuses on the introduction of fuel. to the country evading the payment of IEPS”, detailed the treasury.

As an example of the decrease in technical contraband, the importation of lubricants can be observed, which during fiscal year 2021 had an increase of 79% over legitimate demand, without any support in economic activity.

For the period January-June 2022, the decrease in the volume of imports of these substances to the country is notorious, thus equaling the market demand. “These products are not subject to the payment of IEPS, so they are used as a means of evasion for the introduction of diesel and gasoline,” the SAT detailed in its report.

Last Minute: Treasury reduces fiscal stimulus for Magna gasoline; the IEPS fee will be...

The IEPS tax fee that will be charged to green gasoline will be 0.32 pesos per liter for the week of August 13 to 19, in addition, the additional stimuli are eliminated.

TV Azteca must pay 2,615 million to SAT, says the TFJA

The television company must comply with the concept of Income Tax (ISR), fines and surcharges.

ATTENTION PARENTS: These are the school expenses that YES you can deduct from taxes

School supplies are not deductible on the SAT, but there are two expenses for educational services that you can deduct.

Attention Mexicans: These 14 incomes do not generate taxes!

In the country, natural persons must pay various taxes before the Tax Administration Service.

Even if you do not have an RFC, you are not saved from paying...

Whether or not you have an RFC, there are some observations that you must take into account so as not to have problems with the SAT.

More