Mexican president to propose end to tax write-offs

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Mexican president to propose end to tax write-offs
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Mexican President Andres Manuel Lopez Obrador said on Tuesday that he will propo...

FILE PHOTO: Mexico's President Andres Manuel Lopez Obrador attends a news conference at the National Palace in Mexico City, Mexico July 22, 2019. REUTERS/Edgard Garrido/File Photo

Speaking during his regular morning news conference, Lopez Obrador said he would share the proposal before the next legislative period begins in September. Lopez Obrador’s leftist National Regeneration Movement party and its allies control both houses of Congress, but changing an article of the Constitution requires a two-thirds majority vote.

The country’s ratio of tax to gross domestic product is the lowest of the 36 countries in the Organisation for Economic Co-operation and Development, according to a 2018 report.

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