All magazines VAT exempt?

The Consejo Nacional de Ciencia y Tecnología (CONACYT) and the Consejo Nacional para la Cultura y las Artes (CONACULTA) will certify all magazines who request an exemption from the Value added Tax (see “Magazines subject to VAT,” page 5, Portadatm No. 2 March/April 2003). Through this mechanism magazine publishers will be compensated for the VAT they paid to providers of goods and services. The Mexican Ministry of Finance made an allowance for this change in the 2003 budget. Most analysts interpret this measure as being valid for all magazines, not just “scientific” or “cultural” magazines. The Ministry of Finance realized that it would not have received a large part of the VAT income due to lawsuits by publishers attempting to get their VAT tax payments back.


Trackback from your site.

Editorial Staff @portada_online

Portada Staff

MORE FROM PORTADA


GroupM’s Susan Schiekofer and Undertone’s Michael Pallad Will Discuss Brand Safety at #PortadaNY

GroupM’s Susan Schiekofer and Undertone’s Michael Pallad Will Discuss Brand Safety at #PortadaNY

Do digital advertising standards and policies need to change in the light of fake news, transparency and ad fraud issues? Hear from the executive responsible for digital trading and implementation across all of GroupM’s agencies about what needs to be done so that brands demands are 100% met.