UPDATE 1-Mexico won't hike taxes through 2018, barring shocks - Fin Min

Thu Feb 27, 2014 1:33pm EST

MEXICO CITY Feb 27 (Reuters) - Mexico's government will not implement new taxes or increase existing levies during the rest of its term ending in 2018, barring substantial macroeconomic shocks, Finance Minister Luis Videgaray said on Thursday.

The government overhauled Mexico's tax system last year as part of a wider economic reform drive, and Videgaray said the government wanted to give reassure investors that the rules of the game will not change.

The government "will only propose modifications (to taxes) in response to substantial and extraordinary economic events that make tax adjustments inevitable", Videgaray said. "If there are no such events, the federal government will not propose adjustments to the tax framework."

Videgaray reiterated the government was also committed to deficit reduction, as stated in the budget.

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