Filed Under: [ Business ] [ Hispanic News ] [ Non-US News ]
Tags: border, Mexico, mexico city
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“An aggressive business tax reform signed into law last week in Mexico City could significantly harm the competitiveness of U.S. companies operating maquiladoras in Mexico, according to business officials in both countries.
In an effort to more evenly tax businesses in Mexico, the Mexican Congress and President Felipe Calderón passed a sweeping tax called the Impuesto Empresarial a Tasa íšnica, or IETU, which replaces Mexico’s old asset tax on businesses.
The new law more than doubles the taxes maquiladoras pay to the Mexican government. It also could hurt the industry that sustains growth on both sides of the border. “
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