Mexico plans to include in its 2022 budget the minimum global tax rate of 15% for large companies after an agreement was reached between the G7 over the weekend.
“We see the initiative well because it makes it easier to reach a global agreement,” said Gabriel Yorio, undersecretary of the Treasury, in an interview Monday night. “It also avoids competition to lower (tax) rates,” he added.
The finance ministers of the United States, the United Kingdom and other industrialized countries reached a historic pact over the weekend to apply one such as Google, Apple and Amazon.
The G20 countries, including Mexico, will discuss the G7 agreement in Venice next month, which was also proposed as a measure to reduce incentives for countries considered tax havens.
Gabriel Yorio explained that there is a universe of around 100 companies that could be taxed with the corporate tax and that, possibly, if the operational framework is established, it will be included in the 2022 national budget, which must be presented to Congress in the next months.
“We are going to evaluate if we can have a definition beforehand of how this tax is going to work operationally (…) and if we have time we would be including it in the 2022 economic package,” he explained.
The G7 agreement on a minimum corporate tax of at least 15% globally sets the stage for the next step, which is an online meeting from June 30 to July 1 of the 139 countries negotiating future tax rules. border at the Organization for Economic Cooperation and Development (OECD) in Paris.
The goal of the countries is to reach a consensus on the details at the meeting, as a lot of technical work has been done. Any agreement reached at that meeting will be presented to the G20 finance ministers for approval during a meeting in Venice on July 9-10.
Fiscal Alliance with Honduras
The Ministry of Finance reported that the Federal Tax Attorney, attached to the Ministry of Finance and Public Credit, acts as an expert in the Fiscal Inspectors Without Borders (IFSF) program, a joint initiative of the OECD and UNDP, assisting the Revenue Administration Service (SAR) of Honduras to combat tax evasion.
The official launch of this program was made today in the presence of Miriam Guzmán, minister director of the Honduran Revenue Administration Service, and Carlos Romero Aranda, fiscal attorney of the Federation of Mexico.
In this framework, the investigation of tax crimes and the fight against the origin of illicit financial flows will be a priority. Cooperation between Mexico and Honduras, hand in hand with international organizations, sends a strong message about the concrete implementation of measures in these fields.
