Treasury extends the deadline for paying taxes to Pemex until October

Mexico City. A few days after the end of the administration of President Andrés Manuel López Obrador, the Ministry of Finance and Public Credit (SHCP) extended by one month the term for the payment of the right for shared utility (DUC) that Petróleos Mexicanos (Pemex) must make in August, in order for the state company to have liquidity.

Through a decree published on Wednesday afternoon in the Official Gazette of the Federation (DOF), the federal administration issued this aid with the purpose of promoting the activities of the oil company, which are considered key to the economic development of the nation. .

The document indicates that it is “convenient” to extend Pemex’s deadline to make the DUC payment corresponding to the month of August no later than October 30 of this year.

The above means that the extension is one month for Pemex to pay, since originally it had to deliver the August tax on September 25.

The Treasury pointed out that these payments “will be considered as made in a timely manner,” so no surcharges will be generated for extensions, updates, nor will they give rise to any sanctions.

The federal agency explained that the benefit provides flexibility to Pemex to make its provisional payments on account of the annual payment for the right referred to in article 39 of the Hydrocarbon Revenue Law.

Until June of this year, Pemex’s debt amounted to 99 billion dollars.

Directors of the state company indicated in the conference with analysts and investors in April-June of this year that the maturities for the rest of 2024 were equivalent to 4.8 billion dollars and most of it is concentrated to be settled in September due to an issuance of certificates. stocks in the local market.

The decree stated that this is not the first measure of this type for Pemex — the first occurred at the end of 2020. The current federal government also reduced the tax burden on the oil company. The tax on crude oil extraction went from 65 percent in 2019 to 58 percent, then reached 40 percent in 2023 and this year to 30 percent.

In addition, official data from the state company indicate that it received federal transfers for one trillion 014 billion pesos in the last six years.