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LatinNews Daily - 07 March 2019

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In brief: Mexico

* Mexico’s finance minister, Carlos Urzúa, has said that tax evasion and tax avoidance currently cost Mexico around US$51.6bn a year, or the equivalent to 4% of GDP. Speaking at a conference in Mexico City, Urzúa said that this lost revenue is so high that, if it can be recovered, then the government would be able to afford some major infrastructure projects such as the ‘Tren Maya’ railway project without having to rely on loans or private sector investment. Pointedly, Urzúa said that combating tax evasion and avoidance was a key objective for the government led by President Andrés Manuel López Obrador as part of its wider efforts to stamp out corruption.