After passing the chamber of deputies, many thought that the 2020 income law would include the regularization of illegally imported vehicles, as it would represent an additional income of 2.5 billion dollars next year....but it didn’t pass.
The congress also removed a proposed tax on water for agricultural purposes, that would only affect large corporations.... but they didn’t.
Our economy might be stagnant, investment might be drying up, but one thing is for sure:
Rather than letting returning citizens in with their cars from abroad, we will make them sell them for Nissan Versas because we’re too chicken shit to face the automotive lobby.
Proposed by the Mexican Congress as part of the 2020 budget, removing the import restrictions and registering the illegal vehicles inside the country could increase tax revenue by 2.5 billion dollars next year... to put it into perspective Mexico’s tax income last year amounted to around 176 billion dollars.
If all 18 million cars are registered, Mexico’s total number of cars stands rise by two thirds.
wary of a recession and possible income troubles next year, the government has considered creating, raising, and enforcing more taxes, such as the proposed tax on tipping, the federal road tax, and the tax on digital commerce.
The current restrictions, soften around five years ago, state the cars can only be imported if they’re brand new, or at least six years old from the United States and Europe and up to 25 years for vehicles manufactured elsewhere.
This is a huge development, and industry lobbyists claim that removing import restrictions could make new car sales plummet 43% in three years.
Imported cars have been a contentious issue in Mexico for years. As Mexicans return from the United States to retire, they bring their american cars across the border, which is illegal. They can’t get plates and it is a huge issue among many communities.
You could imagine this will make many people happy, specially those that used to live in the US. But think again if you think the government is doing anyone any favors.