Welcome

New Clampdown on Tax Avoidance Passes Mexico’s Lower House

Oct. 21, 2021, 12:31 PM

Lawmakers in Mexico’s lower house approved dozens of new measures aimed at continuing President Andrés Manuel López Obrador’s crackdown on tax evasion and avoidance.

The Chamber of Deputies on Thursday passed the measures as part of the 2022 budget in a 274 to 220 sending it the Senate for final approval.

  • The legislation introduces a new simplified tax regime for all individuals with an annual income of up to 3.5 million pesos ($173,000). The change is designed to encourage more people to pay taxes and to increase the country’s tax base.
  • It also bans the use ...

To read the full article log in. To learn more about a subscription click here.