Mexico Tax Proposal Said to Exclude Food, Medicine From VAT

Mexico’s government will present a bill today to boost tax collection without applying a sales levy on food or medicine, according to two people with direct knowledge of the proposal who asked not to be identified before the plan is announced.

The measure will also seek a levy on sugary drinks and on capital gains from stock-market transactions, and raise the personal income tax ceiling to 32 percent, while leaving it at 30 percent for companies, one of the people said.