Corporate Tax

Mexico might elevate $ 1.5 billion with a minimal world corporate tax of 15% – Deputy Treasury Secretary

Mexico’s Deputy Finance Minister Gabriel Yorio is seen during an interview with Reuters at the National Palace in Mexico City, Mexico, Sept. 9, 2020. REUTERS / Henry Romero / File Photo

Mexico City, July 1 (Reuters) – Mexico could generate around $ 1.5 billion in revenue if a global minimum corporate tax went into effect, a senior Treasury official said Thursday, as governments across the board World to negotiate a revision of the system.

After two days, most of the countries participating in the talks hosted by the Organization for Economic Co-operation and Development (OECD) supported plans for new corporate tax rules and a tax rate of at least 15%. Continue reading

Mexico’s Deputy Finance Minister Gabriel Yorio said in a post on Twitter that the country could raise at least 30 billion pesos ($ 1.5 billion). He did not give the time frame.

The group of seven advanced economies agreed in June on a minimum tax rate of at least 15%. The broader agreement will be presented to the Group of Twenty Great Economies for political approval at a meeting in Venice next week.

Last month, the Mexican government said it supports the initiative – Yorio reiterated that position on Twitter Thursday – adding that the overarching goal is to promote stable and fair tax systems.

($ 1 = 19.9890 Mexican Pesos)

Reporting by Ana Isabel Martinez Letter by Stefanie Eschenbacher; Editing by Bill Berkrot

Our Standards: The Thomson Reuters Trust Principles.

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