Chetumal to Become Free Zone
Mexico’s President-elect, Andrés Manuel López Obrador stated earlier this week that Chetumal will return to a ‘free zone’ status. While visiting Cancun, the president-elect announced that on January first, 2019, the Mexican government will roll out the programme in the entire northern border area of Mexico. Thereafter, it will be implemented in Quintana Roo along the border with Belize. López Obrador said that at the start of 2019, the value added tax will be decreased from sixteen percent to eight percent. A reduction in income tax is also expected to occur. Lopez Obrador also promised another goodie saying that Mexican workers will also benefit from a one hundred percent increase in the minimum wage.
Andrés Manuel López Obrador, President-Elect, Mexico
“We will establish this plan and I just committed which immediately after a firm program will be implemented in Chetumal. It is to say that there will also be a Free Zone in Chetumal. We are preparing legal modifications and we are also preparing an action of compensation for the citizens, contributors in Mexico act with responsibility and with consciousness, citizen responsibility, to avoid the lack of positive measures to fiscal evaluations. There will also be normal regulations to prevent financial fraud, testing the system in the north and immediately after applied I repeat in Chetumal, Quintana Roo.”
It is expected that the status of a free zone at Chetumal will further encourage Belizeans to spend their dollars across the border. Tens of thousands of Belizeans cross into Chetumal to shop and vacation.