Mexico lawmakers to propose 35 pct top income tax rate -draft plan

Reuters

MEXICO CITY, Oct 16 (Reuters) - Lawmakers in Mexico's lowerHouse on Wednesday will propose changes to a tax overhaul plansought by President Enrique Pena Nieto as a way to boost thecountry's low tax take, and will seek larger increases in taxrates for top earners, according to a draft obtained by Reuters.

Pena Nieto last month proposed a series of measures to raiseMexico's anemic tax revenues by around $35 billion by 2018, butis grappling with stiff political opposition and lobbying frombusiness groups.

Lawmakers will propose raising the proposed top rate on asliding scale to 35 percent for those who earn more than 3.0million pesos ($233,100) a year, above the 32 percent top rateput forward by Pena Nieto, according to a draft of revisions tothe tax plan.

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