Bloomberg Tax
Oct. 16, 2019, 9:43 PM

Mexico Elite Tremble From Threat of Tax Crackdown Under New Law

Michael O'Boyle
Michael O'Boyle
Bloomberg News

Mexico’s elite are quaking after leftist lawmakers passed a new law that makes tax evasion a type of organized crime that could justify the seizure of assets even before judges rule on the validity of charges.

Lawmakers in the country’s lower house on Oct. 15 passed the bill that would make tax fraud of more than 7.8 million pesos ($400,000) a national security threat and a type of organized crime that could be punished with prison without parole during trial and with as much as nine years behind bars.

The bid by President Andres Manuel Lopez Obrador to crack down ...