Chamber of Deputies approves Revenue Law

As expected, the Chamber of Deputies voted to approve the Revenue Law leaving the value added tax rate unchanged at 16%, by a vote of 354-81-4.  The PRD, PT and Converagencia voted against, as did a handful of dissident PRIistas. The Chamber voted a Ps. 7 per pack increase in the cigarette tax, and a 25% tax on energy drinks. At the same time, the Chamber increased the estimated growth rate of the economy and price of oil, and the target deficit (to 0.5% of GDP), which will increase the total revenue pie by Ps. 60 billion pesos. The package now goes to the Senate for final approval.(Universal 10/20)

 

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