Breaking Taboo, Mexico Govt to Tax Food, Medicine Dave Graham and Miguel Gutierrez - Reuters
go to original July 28, 2013

MEXICO CITY - Mexico plans to boost its tax coffers by an extra $50 billion a year with an overhaul that aims to extend sales tax coverage, close tax loopholes and could impose charges on capital gains.
    
Saddled with one of the weakest tax takes in Latin America, President Enrique Pena Nieto will present Congress with a plan by September to substantially improve revenues, including divisive measures to apply value added tax (VAT) to some foods and medicines, according to several people familiar with the plans.
 
The plans aim to improve Mexico's tax haul by about 4 percentage points of gross domestic product (GDP), according to two senior officials in Pena Nieto's Institutional Revolutionary Party, or PRI.
 
That would yield nearly an additional $50 billion per year for Mexico.

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