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Mexico has the 3rd lowest tax wedge among the 34 OECD member countries. The country occupied the same position in 2014. The average single worker in Mexico faced a tax wedge of 19.7% in 2015, compared with the OECD average of 35.9%.
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The tax burden in Mexico declined by 0.2 percentage points from 19.7% to 19.5% in 2014. The corresponding figures for the OECD average were an increase of 0.2 percentage points from 34.2% to 34.4%.
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The VAT revenues in Mexico accounted for 19% of total tax revenue in 2012, close to the OECD average of 19.5%.
Tax revenues in Latin American countries continue to rise but are lower as a proportion of their national incomes than in most OECD countries. Revenue Statistics in Latin America 2012 shows that Argentina and Brazil have the highest tax revenue to GDP ratio, while Guatemala and Dominican Republic stand at the lower end.
Mexico has achieved a high degree of decentralisation in public services, but the Mexican fiscal federal system has important shortcomings. States and municipalities have become heavily dependent on federal transfers to finance a growing share of public spending.
Tax revenues in Latin American countries are lower as a proportion of their national incomes than in most OECD countries, but are rising slowly. Revenue Statistics in Latin America shows that the average tax revenue to GDP ratio in the 15 Latin American countries covered by the report increased from 19% in 2009 to 19.4% in 2010, after falling from a high point of 19.7% in 2008.
Colombia and Mexico are a step closer to beneffiting from cross border tax co-operation and information sharing. Colombia has signed, and Mexico has deposited its instrument of ratification for the Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
Colombia y México están un paso más cerca de beneficiarse de la cooperación trasfronteriza y el intercambio de información. Colombia ha firmado y México ratificado la Convención sobre Asistencia Administrativa Mutua en Materia Fiscal.
The Global Forum on Transparency and Exchange of Information for Tax Purposes has just completed peer reviews of 11 jurisdictions. This brings to 70 the number of peer review reports completed since March 2010.
This report summarises the legal and regulatory framework for transparency and exchange of information for tax purposes in Mexico.