Mexico May Speed Up Tax Overhaul If 2020 Revenue Disappoints
- Changes could be discussed in next two years to start in 2022
- Economic team already exploring fiscal reform to have options
Commuters in Mexico City.
Photographer: Christian Rodriguez/Bloomberg
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Mexican President Andres Manuel Lopez Obrador’s administration may speed up plans for drafting and debating a tax overhaul to generate more revenue if 2020 budget assumptions turn out to be overly optimistic, a top official said.
The finance ministry is exploring different scenarios to revamp taxes rather than increase debt or implement additional spending cuts if resources come up short next year, Finance Undersecretary Gabriel Yorio said. Changes would need to be progressive and fair, he added without providing details.