(Bloomberg) -- Mexico's Congress will begin
consideration today of tax legislation proposed by President
Felipe Calderon to boost revenue collection and reduce the
government's dependence on oil.
The legislation, released last night in Mexico City and
scheduled for a first hearing today by a committee that meets
when Congress is adjourned, calls for a flat tax and limits on
tax deductions. It also proposes a 2 percent levy on cash
deposits of more than 20,000 pesos monthly ($1,863) to fight
evasion by small businesses and individuals.
Read more at Bloomberg Emerging Markets News
consideration today of tax legislation proposed by President
Felipe Calderon to boost revenue collection and reduce the
government's dependence on oil.
The legislation, released last night in Mexico City and
scheduled for a first hearing today by a committee that meets
when Congress is adjourned, calls for a flat tax and limits on
tax deductions. It also proposes a 2 percent levy on cash
deposits of more than 20,000 pesos monthly ($1,863) to fight
evasion by small businesses and individuals.
Read more at Bloomberg Emerging Markets News
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