News Formal

Mexico to cut Pemex taxes and help finance new refinery

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Italia Notizia Notizia

Oil firm’s CEO Octavio Romero says profit-sharing levy with federal government makes the company financially unsound

Mexico City — Mexico will reduce the tax burden of heavily indebted Pemex by about $7bn over the next two years and inject government capital to build a new refinery and raise output from onshore and shallow-water fields, the company said on Tuesday.

He reiterated that the tax will be reduced 11 percentage points to 54% by 2021. The company has previously said that reduction would save the company $7.1bn in 2020 and 2021. Pemex is the world’s most indebted company, and its credit was downgraded to junk by Fitch earlier in 2019. Moody’s Investors Service and S&P Global Ratings have the company, Mexico’s biggest, on a negative outlook.

 

Grazie per il tuo commento. Il tuo commento verrà pubblicato dopo essere stato esaminato.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più:

 /  🏆 12. in İT

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

The finance minister, his son and the Mozambican refinery | News | National | M&GRECAP: Siyabonga Nene asked the PIC to finance a huge investment in Mozambique. He didn’t get that for himself, but the state-owned fund manager appears to have bent over backwards to help his business partner.
Fonte: mailandguardian - 🏆 2. / 92 Leggi di più »

Technology tax set to dominate Group of Seven finance ministers meetingInternational effort under way to update rules to rein in multinationals gaming the system by paying in low-tax rate countries
Fonte: BDliveSA - 🏆 12. / 63 Leggi di più »