SHCP Reports Mexico's Tax Revenues Soar in 2014 Murry Page - The Mazatlan Messenger
go to original June 4, 2014

A government program in Mexico allows artists to donate works of art to pay off their tax debts. CCTV's Franc Contreras reports. (CCTV/MartinBrige)

The Ministry of Finance and Public Credit (SHCP) reported that during the first four months of 2014 tax revenues for the government significantly increased over the tax collections during the same period past year, totaling 663 billion pesos ($50 billion).

A spokesperson for the SHCP said the tax revenues represented a 13.1 percent increase over the prior year in spite of the lackluster performance of the Mexican economy.

The increase in tax income was attributable to the Special Tax on Production and Services (IEPS), the increase in the Value Added Tax (VAT) rate on certain transactions, and the restructuring of the federal income tax. The tax increase in these three areas represent a 30.2 percent, 20.6 percent, and 17.1 percent increase, respectively.

Notwithstanding the good news, the SHCP noted that tax income from Petróleos Mexicanos’ (Pemex’s) oil revenues fell 0.4 percent from the same period in 2013.

See the original at The Mazatlan Messenger

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!