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September 14, 2021

Colombia | What should you know about the fiscal reform?

The tax reform includes social measures, mainly transitory, to mitigate the effects of the pandemic on the most vulnerable and raises revenues in COP15.2 trillion on a permanent basis. Of this, 70% from corporate taxes and the rest from anti-evasion and austerity. The fiscal rule is also reformed.

September 8, 2021

Mexico | The 2022 economic package reinforces the commitment to fiscal discipline

The 2022 economic package reinforces the commitment to fiscal discipline. The forecast of higher tax revenue is supported by improved intake practices and streamlining actions with more fiscal oversight for the compliance of tax payments. The federal law of income does not contemplate creating or raising taxes.

April 30, 2021

Colombia | Solving the tax issue is important for everyone

The latest political discussions within and outside of the Congress have placed the tax reform in uncertainty. It is necessary to reach agreements and quickly approve the best version of the reform in order to avoid negative effects on the economic recovery process along with investment and consumption decisions.

April 19, 2021

Colombia | Third time's the charm?

After weeks of waiting, the Government's tax and social reform proposal is now published. The proposal seeks to stabilize the public debt and presents several issues to improve the tax system and social spending, while some issues should be discussed deeply and free of passionate feelings.

July 16, 2020

Spain | Ensuring budgetary stability in light of the COVID-19 crisis

The COVID-19 crisis will cause an unprecedented deterioration in public finances, which will dwarf even the deficit and debt levels seen during the Great Recession. It is essential that Spain emerges from the crisis in a position to resume the path of convergence with the most advanced European countries.

May 28, 2020

Mexico | Risk of a sharp drop in public revenue in 2020

Lower tax revenue would lead to a higher primary deficit (ceteris paribus). To meet the primary deficit target of 0.4% of GDP for 2020 under the aforementioned contraction range, the federal government would need to cut down public expenditure by MXN 209 billion and MXN 418 billion in 2020, respectively.

February 27, 2020

Fiscal Consolidation: A Demanding Challenge

Predictably, Spain closed 2019 with a public deficit that was closer to 2.5% of GDP than to 2%, meaning little change in comparison with 2018. This almost complete lack of improvement means that fiscal consolidation efforts will be carried over to this year.

November 8, 2019

Mexico | It is urgent to increase the Tax Collection

The country only collects 14% of GDP for tax purposes. Not only does this represent the lowest level of all the countries that are part of the Organization for Economic Cooperation and Development (OECD), but it is also lower than the collection levels of most Latin American countries.