Mexico’s government does not envisage tax increases in an upcoming fiscal reform plan, but will consider closing loopholes, improving taxing efficiency and expanding the taxable base, Deputy Finance Minister Gabriel Yorio said. “In 2021, we find ourselves in a situation where Mexico has no need to increase tax rates,” Yorio told Reuters in an interview. Mexico is finalizing its fiscal reform, but the plan is still in the works and details are being ironed out. President Andres Manuel Lopez Obrador aims to increase Mexico’s tax take to 15% of gross domestic product (GDP), from around 14.2% of GDP currently, Yorio said.
Article Tags
Topics of Interest: Politics
Type: Reuters Best
Sectors: Economy & Policy
Regions: AmericasSouth America
Countries: Mexico
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story