MEXICO CITY Oct 18 Mexico's government may need
to propose a further fiscal reform after lawmakers revised
President Enrique Pena Nieto's tax plan and reduced the scope of
potential receipts, Excelsior TV quoted central bank governor
Agustin Carstens as saying.
Mexico's lower house of Congress on Thursday approved a
revised government tax plan that aims to boost receipts by
nearly 3 percent of GDP by 2018.
However, the bill was revised to roll back plans to apply
sales tax to rents, mortgages, property sales and school fees,
while raising the top income tax rate on a sliding scale to 35
percent from 30 percent.
Finance Minister Luis Videgaray has estimated the revisions
would leave the government with a revenue shortfall of 55.7
billion pesos ($4.4 billion), which the government is expected
to seek to plug by raising its oil revenue forecast.
"Perhaps collecting less (tax) will eventually oblige the
finance ministry to come back with another proposal during this
administration," Excelsior TV cited Carstens as saying in an
interview posted on its website on Friday.
"It is a good move in several directions, for instance I
think generalizing sales tax on a national level is crucial,"
Carstens said. "I also think it is a good move because it will
ensure spending discipline."
The reform must still be passed by the Senate, which is
expected to approve the bill by the start of November. It is
tied to the 2014 budget, which must be approved by mid-November.