Mexico’s economy: Soft drinks, cigarettes, and gasoline will increase in 2022

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For next year the share of the Special Tax on Production and Services that consumers will pay for these products rises 7.36%

Starting in 2022, soft drinks, cigarettes and gasoline will cost more compared to the price they currently have, because when updating the tax quota according to inflation, will result in almost double the increase that resulted in 2021.

For next year the share of the Special Tax on Production and Services (IEPS) that consumers will pay rises 7.36%; for this year the increase was 3.33%.

The Ministry of Finance and Public Credit (SHCP) announced today that the tax quotas applicable to processed tobacco, automotive fuels, flavored beverages, fossil fuels, as well as the applicable quotas for gasoline and diesel destined to entities federative.

He explained that the readjustment will be carried out by applying the update factor corresponding to the period from the month of December of the penultimate year to the month of December immediately prior to that for which the update is made, a factor that will be obtained in accordance with the provided by article 17-A of the Fiscal Code of the Federation.

To do this, 1.0737 will be used as the applicable update factor for the year 2022 for the IEPS quotas, resulting from dividing the National Consumer Price Index (INPC) for the month of November 2021, published in the Official Gazette of the Federation (DOF) on December 10, 2021, which was 116,884 points, and the INPC corresponding to the month of November 2020, published in the DOF on December 10, 2020, which was 108,856 points, a procedure established in accordance with the provisions by article 17-A of the Federal Tax Code.

Thus, the quota per cigar applicable to processed tobaccos referred to in the second article of the IEPS, as of January 1, 2022, is 0.5484 pesos per cigarette from the 0.5108 pesos in force until December 31, 2021.

pesos per liter that are currently paid at service stations. The new tax quota for diesel and non-fossil fuels
will be 6.0354 pesos per liter of 4.6375 pesos.

The quotas for fossil fuels such as propane, butane, jet fuel, fuel oil, petroleum coke, coal coke, mineral coal and others were also updated.

Source: informador.mx

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