Magazines subject to VAT
The Mexican 2003 budget, approved by Congress in mid-December of last year, made consumer magazines subject to a Value Added Tax of 15%. Magazines labeled “scientific” and/or “cultural” will be exempt from the VAT. However, consumer titles published by the large publishing houses will be taxed. Mexican publishers, represented by the trade association CANIEM (Cámara Nacional de la Industria Editorial Mexicana) strongly opposed the measure, arguing that the retail price for magazines will increase by more than 15%.
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