LatinNews Daily - 31 July 2017

* Finance Minister José Antonio Meade Kuribreña has reported that over M$100bn (US$5.6bn) in assets held by Mexican nationals abroad have now been repatriated as part of the asset repatriation programme launched by the government earlier this year. The asset repatriation programme allows for assets held by Mexican nationals abroad to be repatriated exempt from taxes, as long as the funds are destined for investment purposes and remain in the country for two years. According to Meade, so far the federal finance ministry (SHCP) has registered the repatriation of M$102.4bn, higher than the M$100bn that local analysts projected would be the total value of assets repatriated under the scheme. The result comes after on 15 July the government announced the extension of the programme, which was due to end on 19 July, for another three months until 19 October.

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