Deputies endorse increase in savings rate; reduce tax burden on Pemex and CFE

The plenary session of the Chamber of Deputies supported four changes to the 2024 Income Law to cushion the increase in the savings tax and reduce the tax burden of Pemex and the Federal Electricity Commission (CFE).

As part of the scar operation with the Morena leadershipdeputies who were similar to the aspirations of Marcelo Ebrard promoted the proposal of establish the savings tax at 0.50% and no longer at 1.48%, figure originally proposed by the Secretariat of Finance and Public Credit.

As the session continued to analyze and approve, in particular, next year's Income Law, Morena gave in in part to the rectification demanded by deputies of the Broad Front for Mexico in his alternate budget presented Monday.

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Around one in the morning, legislator Carol Antonio Altamirano, who was a promoter of former Chancellor Ebrard, went up to the platform to present the reservation, recognizing the support of the Morenoist coordinator, Ignacio Mier, and the allies of the PT and the PVEM to remove forward this modification.

He was accompanied by about 30 morenistas, including Emanuel Reyes Carmonaanother promoter of the aspirations of the former Secretary of Foreign Affairs.

Said Carol Antonio Altamirano that the approval of this reservation was an achievement of democratic dialogue and a contribution from the Morenoist bench.

The adjustment to reduce the increase had the approval of the Secretary of Finance which, however, rejected the request to ratify the current tax established at 0.15 percent.

So the withholding via ISR on savings remained at 0.50%, a figure that will triple that tax.

INCREASE

In the debate, Acción Nacional, through Jorge Triana, warned that the 1.48% withholding for savers was “a government tax” which would increase by 886%, that is, 10 times greater than what is currently applied.

Representative Berenice Juárez (PAN) stated that raising the ISR from 0.15 to 1.48% on savings "is looting, a theft from authoritarianism."

Presented by the PVEM before midnight, and endorsed in an economic vote by the P.T. and the PVEMthe first reservation that went ahead seeks reduce the tax burden of CFE subsidiaries which until now had to pay double taxation in some cases.

Corona Dew Nakamura (PVEM) explained that, with this adjustment, CFE will not pay any tax if it sells assets between its subsidiaries and affiliates. “We agree with this reservation because it is part of the strengthening of state companies and the recovery of energy sovereignty,” he said.

Opposition representatives took a position against it.

Later, the deputy Lilia Aguilar Gil (PT) presented two reservations also related to the tax burden in the case of Mexican Petroleum (Pemex).

These adjustments are to reduce from 40 to 30% the tax contribution that this State company makes for each barrel of oil; They argued that in this way it will have a greater flow of resources for its maintenance and expansion of its infrastructure.

He deputy José Francisco Yunes Zorrilla (PRI) He warned that Pemex actually required more support “because it is poorly managed by an ineffective administration; In just five years it grew, modernized and contributed to the public treasury.”

The PRI parliamentarian warned that by lowering the right of shared utility of Pemex –when it had managed to be up to 54%– entails costs for the treasury.

OIL FUND

Yunes Zorrilla warned that the measure was contrary to the constitutional obligation to guarantee, through the Mexican Petroleum Fund, support for science and technology, since the approved reserve would translate into the cancellation of resources for those items.

In the afternoon, the deputy Fabiola Dircio (PRD) He stated that the deputies related to Marcelo Ebrard They had ended up submitting to the impositions of Brunettewithout achieving the dimension changes that they announced possible weeks ago.

The discussion of the reservations continued until the closing of this edition and the vote on the reservations is expected this morning.

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