lets them pay their taxes in installments

Oil companies operating in Mexico may comply with the payment of taxes in deferred bonds, determined President Andrés Manuel López Obrador.

The head of the Executive published a decree this Monday in which he explains that among the reasons for this decision are the fall in the prices of the Mexican mixture (due to the COVID-19 pandemic), and the ‘oil war’ that Saudi Arabia It began in March over disagreements with Russia over crude production.

Therefore, López Obrador determined that the assignees will be able to pay deferred the provisional payment for the right for the shared utility and the monthly payment of the hydrocarbon extraction right corresponding to November of this year no later than January 7, 2021.

The document emphasizes that no type of surcharges for extension will be generated nor will there be any penalties.

The decree will enter into force on Tuesday, December 29, and will be in force until January 7, 2021.

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