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Economy & Business - July 2020

MEXICO: Anti-corporate tax evasion drive compounds challenges for businesses

Since taking office on 1 December 2018, Mexico’s President Andrés Manuel López Obrador has repeatedly emphasised that one of his objectives is for Mexico’s largest companies to pay their taxes, which he claims they have been avoiding for years. Following the approval by the federal congress of an amendment to constitutional article 28 which forbids tax exemptions, the López Obrador administration has stepped up its efforts to tackle corporate tax evasion. While only a few voices questioned the move, its timing –amid the coronavirus (Covid-19) pandemic—has been widely criticised as it has compounded the challenging situation that businesses of all sizes are currently facing.

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