Mexico Simplifies Fiscal Regime for Pemex

Mexico unveiled a plan to simplify the tax structure for Petroleos Mexicanos (Pemex) to alleviate its debts. Pemex will pay a revised general duty of 30% and 11.63% on specific gas operations. This change aims to enhance financial transparency and enable Pemex to invest more efficiently.

In a strategic move to bolster its state oil enterprise, Mexico has announced a plan to streamline the fiscal regime for Petroleos Mexicanos, commonly known as Pemex.

During Wednesday's regular morning press conference, President Claudia Sheinbaum revealed the initiative intended to ease Pemex's heavy debt burden on the national budget.

The revised structure includes a general duty of 30% and a lower rate of 11.63% applied to its more expensive non-associated gas operations. This measure seeks to foster transparency while allowing Pemex greater latitude for investments.

(With inputs from agencies.)