For the second consecutive week in Mexico, the Secretariat of Finance and Public Credit (SHCP) has decided not granting the fiscal stimulus to Magna gasolineaccording to a decree published in the Official Gazette of the Federation (DOF).
This measure also applies to Special Tax on Production and Services (IEPS) for the Premium gasoline and diesel, maintaining these fuels without the tax benefit.
According to data from the SHCP, the average price of Magna gasoline at service stations is 23.56 pesos per liter, while the Premium It costs 25.27 pesos per liter and the diesel It sells at 25.14 pesos per liter.
This lack of fiscal stimulus It means that both motorists and transporters will pay more for each liter of fuel from Saturday, May 25 to Friday, May 31.
How much tax is paid per liter of gasoline and diesel?
- Gasoline less than 91 octane (Magna): Drivers must pay 6.17 pesos tax per liter.
- Gasoline greater than or equal to 91 octane (Premium): The tax has remained at 5.21 pesos per liter since January, without the support of the Treasury.
- Diesel: The tax to pay is 6.78 pesos per liter.
The above only in the case of the IEPS tax, Remember that the payment of VAT must also be covered. This means that you pay two taxes every time you load fuel.
In the case of VAT, the rate is 16 percent and is applied to the final price of fuels, that is, to the cost of gasoline and diesel without the added amount of the IEPS.
In Mexico, IEPS is paid for each liter of gasoline purchased. This tax may vary weekly depending on factors such as the exchange rate, international reference prices and logistics costs.
The SHCP establishes a fiscal stimulus every week to counteract the volatility of these factors and reduce the impact on consumers’ pockets.
What are fiscal stimuli?
Fiscal stimuli are mechanisms that the Government uses to support motorists in paying the IEPS on fuel.
These stimuli are published weekly in the DOF and are known as IEPS, representing ‘help’ from the Ministry of Finance to prevent gasoline prices from affecting consumers too much.
However, the absence of these stimuli means that fuel costs are completely transferred to users.
In this context, The recommendation is to try to apply gasoline saving measuressuch as sharing the car, taking care of the speed, avoiding sudden accelerations, and in general, giving good maintenance of the unit for optimal performance.
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