Mexico tries to keep the flow of tourism by eliminating taxes for tourists

Contributed by Jill Seymour:

With tourism being Mexico's third most important source of income, one can imagine how the economic downturn of the United States has begun to affect Mexico. In an attempt to maintain the tourist flow toward Mexico, the Mexican government will allow tourists to claim back the 15% tourists have paid while on vacation.

In order to qualify, tourists must spend at least $115 in approved stores. The tax break will only apply to shopping and souvenirs goods, not hotels and restaurants. Starting in June, tourists will be able to claim their tax breaks at five Mexican airports (those popular as tourist destinations).

Image: MSNBC (“Tourists eat breakfast at a coffee shop in the old mining town of Real de Catorce, Mexico.”)

Source: Business Week Online