SONORA – In order for southern Sonora to develop its economy and not present a regional gap within the state, federal and state governments should work together to grant more tax facilities to this area, said Jose de Jesus Nares Felix, president of Cámara Nacional de Comercio, Servicios y Turismo (Canaco Servytur) in Ciudad Obregon.
In an interview with El Economista, he said that the fiscal stimulus program for the northern border region should not only focus on the municipalities that are located in the north of the state.
He explained that the federal authorities have to reconsider the extension of the free zone, so that more regions that are in a situation of economic weakness can benefit.
On the first day of 2019, the program entered into force in the northern strip; among its benefits are the reduction of the Value Added Tax rate to 8% and the Income Tax rate to 20%, in addition to the double increase of the minimum wage.
Source: El Economista