Feb. 23 (Bloomberg) -- Local representatives from Mexico’s ruling party have agreed to changes in the Institutional Revolutionary Party’s bylaws that would allow for taxes on food and medicine, according to a party official.
State and municipal-level representatives from the party known as the PRI have approved removing language from policies that prohibited a value-added tax on these items, Martin Takagui, a PRI deputy secretary for state relations, said in a telephone interview from Mexico City. The draft changes will be presented at the PRI’s national assembly March 1-3 for final approval, Takagui said.
Mexico President Enrique Pena Nieto, whose election last year returned the PRI to power, has pledged to increase growth in Latin America’s second-biggest economy in part by boosting tax collections. The bylaw changes would open the door to the party considering tariffs on food and medicine as part of tax policy proposals, according to Takagui.
Party members at the national assembly will consider the changes with a simple majority vote needed for approval, according to Takagui.
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