Increase in the cost of gasoline, soft drinks and cigarettes as of January 1, 2021
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As of January 1, 2021, some products such as gasoline, soft drinks and cigarettes will have an adjustment in their price , according to the inflation estimate.
According to the Law on Spatial Tax on Production and Services (IEPS), the Ministry of Finance updates each year the respective quotas for processed tobacco, automotive fuels, flavored beverages and fossil fuels destined for federal entities.
That said, cigars will have an IEPS of 0.49 to 0.5108 pesos, in flavored drinks - among these soft drinks - of 1.3036 that had before 1.25616 pesos.
Taking into account all the above, the Treasury pointed out that automotive gasoline, mostly known as Magna , Premium and Diesel , will also have their adjustment.
Gasoline lower than 91 octane - Magna - will be between 4.95 to 5,1148 pesos per liter, which represents an average increase of 3.3%. The Premium from 4.18 to 4.3192 pesos.
Meanwhile, the quotas applicable to fossil fuels that will come into effect will be as follows: Propane - 7.7291 cents per liter; butane - 10,0023 cents per liter, gasoline and gas plane - 13,556 cents per liter; jet fuel and other kerosenes– 16.1918 cents per liter; diesel - 16,4501 cents per liter; fuel oil - 17.5558 cents per liter; petroleum coke - 20.3767 pesos per ton; coal coke 47.7695 pesos per ton; Mineral coal - 35.9692 pesos per ton and other fossil fuels - 51.9957 pesos per ton of carbon that it contains.
The agreement can be found in the DOF, where you can see the entire agreement 138/2020, known as: "Agreement by which the quotas specified in terms of the special tax on production and services are updated."
Published in the Official Gazette of the Federation, the update factor applicable to the IEPS fees for 2021 is 1.0333 points, as a result of dividing the national consumer price index for November 2020, which was 108,856, with the November 2019, which was 105,346, a procedure established in accordance with the provisions of article 17-A of the Federal Tax Code.
What is the IEPS?
The Special Tax on Production and Services means the tax that is paid for the production and sale or importation of gasoline, alcohol, beer and tobacco, among other products.