Accountants Call for Lower Taxes in Mexico Mike Godfrey - Tax-News.com
go to original December 17, 2014

The President of the Mexican Institute of Public Accountants (IMCP), Leobardo Brizuela, has expressed support for tax cuts in 2016, as suggested by the head of Mexico's Secretariat of Finance and Public Credit, Luis Videgaray Caso.

In a recent interview with Radio Formula, Videgaray Caso said that the Government is open to reducing taxes, but said such a move will have to wait until 2016, as the Budget for 2015 has already been passed.

Speaking at a press conference, Brizuela said that tax increases introduced under this year's tax reform have undermined the country's competitiveness and stunted its economic growth.

The reforms implemented this year include the introduction of three new income tax brackets, an increase in the top rate of income tax from 30 percent to 35 percent, and new taxes on certain dividends and gains.

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