Cozumel, Q.R. — Starting January 1, the island of Cozumel will be included in the decree of fiscal incentives for the southern border region of Mexico. The inclusion will see the island’s IVA decrease by half.
Governor Mara Lezama said the decrease in federal IVA tax (Impuesto al Valor Agregado) is only one of the incentives the municipality will receive in the New Year by being included.
Lezama says the tax incentive will be applied to island companies within the southern border region as of January 1, 2025. The IVA reduction will be reduced from 16 percent to 8 percent through a 50 percent tax credit.
“Life is getting more expensive so we asked for, among other things, the authorization to include them in the decree of the Southern Border Region. As of January 1, 2025, Cozumel will have tax incentives,” she announced.
Lezama says the proposal to include Cozumel was backed by President Claudia Sheinbaum Pardo. Lezama says municipal companies will also receive other benefits given the vulnerability of its geographic location, but did not elaborate on what they will be.
