Tax Chief's Crackdown Targets Automakers

Tax Chief's Crackdown Targets Automakers (Bloomberg)

• Mexico's tax chief wants to crack down on key incentives for global automakers to produce in the country, the government's latest effort to boost revenue by going after large companies.
  • Raquel Buenrostro, the head of Mexico's tax authority known as SAT, said in an interview her proposal is awaiting approval by the Finance Ministry, and is part of a package of measures to increase tax collection by 1% of gross domestic product next year.
• In the interview in her Mexico City office on Friday, Buenrostro said her new boss, incoming Finance Minister Rogelio Ramirez de la O, is going to prioritize refinancing Pemex.
  • "This is going to come first because Pemex's debt is more expensive than sovereign debt," she said. Lopez Obrador has wanted to do the refinancing "for a long, long, long time" she said, without providing details.