In an effort to capitalize on the nearshoring trend in Mexico which has seen companies move closer to the US in an effort to simplify supply chains, in an Executive Order the government announced a new set of tax incentives for companies looking to relocate operations to the country. The Executive Order applies to investment in fixed assets and will be available until the end of 2024, with benefits ranging from 56% tax relief to 89% on those investments. Below is a summary of the new tax incentives and their application.