The IMF has announced the conclusion of the 2023 Article IV consultation with Mexico and has issued the consultation press release and staff report. With respect to taxation, one of the main findings of the report is that Mexico needs to boost non-oil revenues, which remain below Latin American and OECD peers. Suggested options to boost non-oil revenues include:
- Eliminating the zero-rating for VAT and rationalizing exemptions (except for a few key foodstuffs);
- Broadening the personal incom…