Mexican Government Grants Quake Victims Tax Breaks Yan - XinhuaNet
go to original September 15, 2017

Soldiers remove debris from a partially collapsed municipal building in Juchitan, Mexico (CNN)

Mexico will grant temporary tax exemptions to victims of last week's powerful 8.2-magnitude quake, the Ministry of Finance  has announced.

Those affected will also be able to deduct expenses on new fixed assets, such as a building, property, plant, equipment, etc.

These measures aim "to speed up the reactivation of the economy in communities impacted by the recent quake in the states of Chiapas and Oaxaca," the ministry said in a statement.

The two southern states were the hardest hit by Thursday's quake, the strongest to hit Mexico in nearly a century.

The waiver on tax obligations will apply to income taxes for the period from August to December of this year.

A few other tax breaks were included, as well as a more flexible social security payment plan for employers.

Read the rest at Xinhua

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