Executive Branch reports progress on tax reform and presents economic guidelines that will be the basis for the PEF 2022 before Deputies.
1 abril 2021

MEXICO

On March 30, the head of the Tax Administration Service (SAT, in Spanish), Raquel Buenrostro, confirmed that the Executive Branch is making progress in the drafting of a tax reform. The announcement was made during a meeting before the Finance and Public Credit Committee of the Chamber of Deputies. The text would be presented in the medium term. Likewise, on March 31, the Secretariat of Finance and Public Credit (SHCP, in Spanish) published the General Pre-criteria for Economic Policy 2022. The text, delivered to the Congress of the Union, mentions objectives for next year’s fiscal year. These Pre-criteria are the beginning of the process of the Executive Branch’s work for the presentation of the Fiscal Economic Package (PEF, in Spanish) 2022 on September 8 in the Chamber of Deputies.

At the Finance Committee event, Buenrostro explained that President Andrés Manuel López Obrador (AMLO) requested that progress be made in the drafting of a tax reform, although it “”will not necessarily”” be related to new taxes or rate increases. Given this, she assured that the text would be focused on “administrative simplification”, with the aim of facilitating their tax obligations for individuals and companies. This text could be included in the PEF 2022, although this has not yet been confirmed.

On the other hand, the Pre-criteria issued by the SHCP estimate that in 2022, state budget revenues will exceed those of 2020 by USD 17 billion, thanks to a greater amount of tax revenues received. In addition, it is detailed that the recovery of economic activity will be accelerated with measures to contain the impact of the COVID-19 health emergency and strengthen the domestic market, through an increase in social program transfers, greater financial inclusion and access to credit.

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