Pemex receives a subsidy of 32,000 pesos from the AMLO government; Plus a tax credit

During 2021, Petróleos Mexicanos (Pemex) will receive additional capital contributions from the federal government for the tax credit it granted a few days ago.Carlos Cortez, deputy director of accounting and budgeting at the oil company, informed.

In an audio conference presenting the 2020 Pemex results, the director explained that The first contribution of 32,62 million pesos has already been received, Which will be used to pay off Pemex’s long-term depreciation.

He explained that this support is in addition to the tax exemption issued by the government last Friday in the evening issue of the Official Gazette.

He pointed out that “for the year 2021, the decree issued on February 19 to grant a tax exemption to pay the right to a common profit (DUC) in exchange for 73,280 million pesos, and the applicable rate is 54 percent for the year 2021.”

In addition, the federal government has confirmed that Pemex will receive equity contributions in line with its short-term debt maturity profile. On February 24, we have already received our first transfer, with a total of 32,62 million pesos“, Locate.

I add that The support will be granted throughout 2021 This will be done through capital contributions.

“The first was 32 thousand and 62 million pesos and will be used to pay long-term depreciations. He indicated that the subsequent contributions will be allocated to pay the amortization of debt maturities corresponding to 2021.”

He concluded that these examples were only a sample of federal government support to strengthen Pemex’s financial position.

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