México’s Tax Revenues Soar in first Four Months of 2014

by Murry Page

3 Jun 14 

mazmessenger.com 

The Ministry of Finance and Public Credit (SHCP) reported that during the first four months of 2014 tax revenues for the government significantly increased over the tax collections during the same period past year, totaling 663 billion pesos ($50 billion).

A spokesperson for the SHCP said the tax revenues represented a 13.1 percent increase over the prior year in spite of the lackluster performance of the Mexican economy.

The increase in tax income was attributable to the Special Tax on Production and Services (IEPS), the increase in the Value Added Tax (VAT) rate on certain transactions, and the restructuring of the federal income tax. The tax increase in these three areas represent a 30.2 percent, 20.6 percent, and 17.1 percent increase, respectively.

Notwithstanding the good news, the SHCP noted that tax income from Petróleos Mexicanos’ (Pemex’s) oil revenues fell 0.4 percent from the same period in 2013.

(from El sol de Mazatlán)

Sectur seeking US tourists

Monday, 26 May 2014 01:10

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

thenews.com.mx

BY SUZZETE ALCÁNTARA

THE NEWS

“In an effort to generate more internal revenue, Mexico is seeking to attract more tourists from the United States,” Secretary of Tourism Claudia Ruiz Massieu said.

The secretary took advantage of a meeting with officials from 14 Mexican consulates in cities such as Los Angeles, Miami, Dallas, Washington and New York to inquire about tastes of various demographic groups in order to further develop markets of appeal.

“The goal is to establish a closer relationship with them so that they may become active partners in the building of our national brand, as well as in helping to attract more tourism, thus generating more revenue,” said Ruiz Massieu.

The initiative is part of the National Infrastructure Program created by President Enrique Peña Nieto, which entails significant investment in the tourism sector.

“We want to stimulate more tourist spending, but we also want to make investment in the tourism sector an attractive option, all with the end goal of promoting economic and social development,” she said.

During the meeting, the directors of the Tourism Board of Mexico, ProMéxico, the National Fund for Tourism Development (Fonatur) and the National Brand made presentations about how to further promote investment and international business relations.