EconomyLast Minute: Treasury reduces fiscal stimulus for Magna gasoline;...

Last Minute: Treasury reduces fiscal stimulus for Magna gasoline; the IEPS fee will be 0.32 pesos

After more than six months of providing a 100% discount to the IEPS tax on Magna gasoline , the Ministry of Finance and Public Credit ( SHCP ) reduced this support to 94%, for the week of August 13 to 19 , reported the agency in the Official Gazette of the Federation (DOF).

Instead of not charging a fee of 5.49 pesos per liter of Magna , it will stop charging 5.16 pesos. The fact that the subsidy is not 100% means that the additional incentives provided to gasoline importers and producers disappear, refers to the decree published today in the DOF.

The first time that the 100% discount, without interruption, of the IEPS quota for Magna was applied on February 12 of this year. The Treasury updates these quotas every Friday of each week and publishes them in the DOF.

For the week that ends today, Friday, the additional support for Magna was 0.68 pesos per liter, for the following week it will be zero pesos.

The same thing happened with Premium gasoline last week, and will continue for the next seven days starting tomorrow, Saturday.

The Treasury provides the stimulus to gasoline, after the objective of amortizing fuel prices, which began to rise after the advance of the vaccine and mobility in the world, in addition to the conflict between Russia and Ukraine at the end of February. Now, after a reduction in the prices of oil and gasoline at a global level, the stimuli begin to decrease, which also implies collection for this fee to the Mexican treasury.

For Premium gasoline, the IEPS discount will be 72.34%, so the discount will be 3.3 pesos per liter; that is, they will charge you a fee of 1.2 pesos per liter.

The IEPS fee that will be charged to Magna will be 0.32 pesos per liter.

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Diesel, the fuel used by means of transporting goods and people, will continue to enjoy the 100% stimulus the following week.

Therefore, you will not be charged an IEPS tax fee, since you have a 100% subsidy, the complementary stimulus will be 0.85 pesos per liter.

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