Swordsmyth
01-02-2019, 06:34 PM
In a bid to reduce migration to the U.S. and attract investment, Mexican President Andres Manuel Lopez Obrador has proposed the creation of economic “free zones” along the U.S.-Mexico border.
The Tax Incentive Decree for the Northern Border Region, which Lopez Obrador announced Saturday, would create a free zone that would stretch from the Gulf of Mexico to the Pacific Coast and be more than 15 miles wide, the San Diego Union-Tribune reported (https://www.sandiegouniontribune.com/business/economy/sd-fi-mexico-freezone-20181231-story.html).
Inside the zone, income taxes would be reduced by a third and Value Added Taxes on imported goods would be slashed in half, the minimum wage would increase 100 percent, and fuel prices would equal U.S. prices, the report said.
More at: https://www.foxnews.com/world/mexican-president-proposes-free-zone-to-attract-investment-reduce-migration-to-us
The Tax Incentive Decree for the Northern Border Region, which Lopez Obrador announced Saturday, would create a free zone that would stretch from the Gulf of Mexico to the Pacific Coast and be more than 15 miles wide, the San Diego Union-Tribune reported (https://www.sandiegouniontribune.com/business/economy/sd-fi-mexico-freezone-20181231-story.html).
Inside the zone, income taxes would be reduced by a third and Value Added Taxes on imported goods would be slashed in half, the minimum wage would increase 100 percent, and fuel prices would equal U.S. prices, the report said.
More at: https://www.foxnews.com/world/mexican-president-proposes-free-zone-to-attract-investment-reduce-migration-to-us