A senior government official in Mexico spoke this week about the need for continuing tax reforms in order to reduce the country's fiscal dependancy on oil exports.
Concerns have been raised with regard to declining oil production - a major worry for the Government, as this area reportedly accounts for a third of its total revenue.
This slowdown means that any revenue lost will have to be compensated for by future governments in the form of possible new taxes on foods or medical items, Deputy Finance Minister Jose Antonio Meade suggested this week.
"Without a doubt another tax reform is needed, but not necessarily in the short term," Meade commented, according to Reuters.
The Mexican Government also this week predicted a boom in economic growth in 2009.
Unveiling growth estimates in a statement on its official website, the Finance Ministry commented that increased trading with the US, which it expects to stage a recovery in that year, is likely to boost growth.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment