Mexican Business Chamber Launches Legal Fight Against Tax Reform Gabriel Stargardter - Reuters
go to original February 14, 2014

Demonstrators carry a replica of skeletons during a march along the streets in Ciudad Juarez last October to protest against the federal government's economic and tax reforms. (Reuters/Jose Luis Gonzalez)

MEXICO CITY - A business chamber based in the northern Mexican industrial hub of Monterrey said this week it had presented 29 injunctions against a new tax reform, highlighting the hurdles faced by the government as it seeks to improve Mexico's weak tax revenues.

In October, Mexico's Congress passed a fiscal overhaul pushed by President Enrique Pena Nieto that included higher income tax rates for the wealthy as well as new levies on junk food, soft drinks and stock market gains.

The reform aims to wean Mexico's government off the money generated by state-controlled energy company Pemex and also seeks to raise tax revenue by almost 2.7 percent of gross domestic product by 2018.

The tax overhaul was one of the main strands of a larger package of reforms that Pena Nieto's government has squeezed through a divided Congress. The reform drive includes opening up Pemex to foreign investment and taking market share away from telecoms billionaire Carlos Slim.

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