By THE PULSE NEWS MEXICO STAFF In an effort to increase the government’s already-tight control on private bank account movements, Mexico’s new 2022 Income Law, promoted by the Secretariat of the Treasury (SAT), would require banks and other financial institutions to provide monthly reports, instead of the current annual reports, on all cash deposits received by account holders amounting to
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By KELIN DILLON On the afternoon of Wednesday, Sept. 8, Mexican Secretary of Finance and Public Credit (SHCP) Rogelio Ramírez de la O presented Mexico’s 2022 budget plan to the Chamber of Deputies under the administration of President Andrés Manuel López Obrador (AMLO), featuring no increase in taxes, increased spending in the health sector, and historical levels of public investment.
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By KELIN DILLON While Mexican President Andrés Manuel López Obrador (AMLO) is expected to present Mexico’s 2022 Budget to the nation’s Congress on Wednesday, Sept. 8, the country is not expected to have any significant advances in public spending due to a number of debilitating economic factors brought on by the effects of the year-and-a-half-long covid-19 pandemic. During 2020 and
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By KELIN DILLON According to the International Monetary Fund’s (IMF) External Sector Report, Mexico drastically needs to reform its fiscal practices and implement increased monetary support to its inhabitants if it wants to fully recover from the economic effects of covid-19. “More domestic fiscal support is needed in the short term to ease the tensions of the pandemic, reduce scars
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By THE PULSE NEWS MEXICO STAFF The federal Attorney General’s Office (FGR) has issued an arrest warrant for grounded Interjet airlines founder and entrepreneur businessman Miguel Alemán Magnani for the alleged crime of tax evasion for the sum of 66.285 million pesos, judicial sources reported Thursday, July 8. Aléman Magnani — grandson of former Mexican President Miguel Alemán Valdés (1946-1952)
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XINHUA The Mexican economy is recovering at different “two speeds” from the collapse caused by the covid-19 pandemic, with exports growing at a steady pace and consumption gradually increasing with fits and starts, the Organization for Economic Co-operation and Development (OECD) said on Monday, May 31. During a virtual press conference, OECD economist for Costa Rica and Mexico Alberto González
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By THE PULSE NEWS MEXICO STAFF Mexico’s Tax Administration Service (SAT) is out to squeeze taxpayers and increase its collections through a plan to conduct more audits of potentially delinquent contributors, according to a report published in Reforma newspaper on Thursday, May 6. At the end of the first quarter, the SAT collected 112 billion pesos through audits or reviews
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By RICARDO CASTILLO Vaccines Registration Underway, Sort of… As of Tuesday, Feb. 2, the Mexican government has opened up its Natonal Vaccination Program of covid-19 vaccines to everyone over the age of 60, allowing those eligible to register on a webpage run by the Interior Secretariat (SeGob). In theory, everyone in Mexico over age 60 — including legal foreign residents
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By RICARDO CASTILLO Mexican Steel King Tanked, Again Spanish police on Saturday, Nov. 8, arrested Mexican citizen Alonso Ancira Elizondo in the island resort of Palma de Mallorca. Ancira, head of the steel foundry Altos Hornos de México (AHMSA), now faces extradition to Mexico. He was free on bond but the court, known as the National Audience of Spain, rejected
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By KYLIE MADRY Mexican President Andrés Manuel López Obrador (AMLO) once again sparked controversy, this time declaring his intention to ban outsourcing in Mexico during his morning press conference on Tuesday, Oct. 27. This is AMLO’s latest target in his war on corruption, with the president saying that outsourcing only allows businesses to skirt tax laws and avoid paying employees
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