Photo: El Contribuyente

By KELIN DILLON

Mexico’s Commission of Finance and Public Credit of the Chamber of Deputies introduced its 2020 Income Package on Saturday, Oct. 16, to be debated and voted on Monday, Oct. 18.

The package reveals an anticipated 4.1 percent Gross Domestic Product (GDP) growth and an estimated exchange rate of 20.3 pesos to the U.S. dollar, as well as the expected national income of 7.88 trillion pesos throughout 2022.

Of that figure, 3.94 trillion pesos will be earned via taxes, with another 411.8 billion pesos from Social Security and another 1.2 billion pesos from the sale of products and other services.

Opposition parties are preparing their rebuttals to the proposal, including an anticipated rejection of the initiative to register all adults over the age of 18 with the country’s tax institution.