Mexico’s biggest opposition party is set to reveal a new proposal which will lower sales taxes and corporate income taxes in the country, in an effort to raise tax revenues and tax compliance. Senator Francisco Labastida, a leader in Mexico’s largest opposition party the Institutional Revolutionary Party (PRI), has revealed that a new proposal will be made public tomorrow to rework the country’s tax rules and raise national tax revenues by an estimated MXN 140 billion (approx. USD 11.68 billion). The PRI’s proposed ... Read More

The concentrated and appropriate use of environmental taxes could encourage businesses across the globe to seek innovative solutions to technological problems and encourage the expansion of widely beneficial “green technologies”. Attempting to rectify the world’s environmental problems could be an economically crippling task if no significant advancements are made in currently available technology, according to information provided in Taxation, Innovation and the Environment, a new report on “green taxes” by the Organization of Economic Cooperation and Development (OECD). Announcing the release of ... Read More

Mexico could soon implement heavy restrictions on the use of cash for large purchases, in an effort to hinder the nation’s overwhelming levels of money laundering. New laws have been proposed by Felipe Calderon, President of Mexico, to prohibit cash purchases of luxury goods valued in excess of MXN 100 000 (approx. USD 7 700) within the country. The measure is aimed at hampering the use of illicit funds and money laundering through untraceable cash purchases. While announcing the proposal Felipe Calderon explained ... Read More