Monday, June 27, 2005

Mexico To Delay Vote On Pemex Tax Reform

Earlier, I noted that the Mexican government had taken steps to reform the amount of taxes Pemex will have to pay as a way to prevent foreign participation. Now we learn that Mexico's lower house will delay a vote on tax reform because it wants to stretch out the tax decrease over seven rather than four years. Taxes on Pemex amount to a third of the Mexican government's budget.