May 23, 2019 / 10:17 PM / 3 months ago

Mexico aims for $7.3 bln tax relief for troubled Pemex by 2021

MEXICO CITY, May 23 (Reuters) - Mexico’s government aims to give tax relief for state oil firm Pemex of 138.7 billion pesos ($7.28 billion) in 2020-2021, according to a Pemex document seen by Reuters on Thursday.

The company, which is lumbering under a heavy debt burden, said the reductions would be achieved by lowering a profit sharing tax to 54% by 2021 from a current 65%. The tax is the company’s principle financial contribution to the federal government.

$1 = 19.0415 Mexican pesos Reporting by Ana Isabel Martinez; Editing by Frank Jack Daniel

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