|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Mexico

Lower US Taxes Could Lead to Reduced Investment in Mexico, BBVA Bancomer Says

MEXICO CITY – Investment in Mexico could fall if the United States’ corporate tax rate is slashed from 35 percent to 15 percent, the chief executive officer of Mexico’s largest financial institution said Thursday.

If Congress approves the corporate tax cut proposed by US President Donald Trump’s administration, there will be a greater appetite to invest in the US, BBVA Bancomer CEO Eduardo Osuna said in presenting his institution’s first-quarter results.

Asked if that would lessen investors’ desire to invest in Mexico, he responded affirmatively, noting that the creation of different special economic zones in Mexico had modified the tax regime to achieve the same effect.

“The tax rate in any country creates a cost of production (for the company), and so if your tax rate falls the country is more competitive,” Osuna said.

In a press briefing Wednesday at the White House, US Treasury Secretary Steven Mnuchin unveiled plans for what he said would be one of the largest tax cuts in American history.

Trump’s plan – which is thus far short on details – also would reduce the number of tax brackets for individuals from seven to three (10 percent, 25 percent and 35 percent), among other things.

In presenting the bank’s results for the first quarter, when BBVA Bancomer posted net income of 11.8 billion pesos ($615 million), up 16.9 percent from the same period of 2016, Osuna said that if Trump’s tax plan receives legislative approval it will have implications for many countries and force them to adapt.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2015 © All rights reserved