Background on Carlos Lerma Cotera and His Role
Carlos Lerma Cotera, the Subsecretary of Income at Mexico’s Secretaría de Hacienda y Crédito Público (SHCP), recently addressed the nation regarding fiscal policies for the 2026 economic package. His statements shed light on the government’s approach to taxation and its priorities for the upcoming years.
No Tax Reform, but Modifications to Customs Law and Fiscal Spending Review
Lerma Cotera clarified that there are no plans for a comprehensive tax reform. Instead, the focus will be on modifying the Customs Law and reviewing fiscal spending.
Customs Law Modifications
The subsecretary highlighted that there are ample opportunities to increase tax revenues through the Customs Law, particularly those derived from international trade. This suggests that the government intends to optimize revenue collection by refining existing customs regulations.
Review of Fiscal Spending
Lerma Cotera also mentioned that the SHCP is currently examining certain fiscal spending areas, deeming some of them outdated. Although he did not specify which expenditures will be targeted, this review aims to streamline government spending and ensure its relevance.
Simplification Efforts
In addition to the aforementioned initiatives, Lerma Cotera emphasized the ongoing efforts to simplify administrative procedures. Collaborating with the Agencia de Transformación Digital, these endeavors aim to expand the taxpayer base and foster a more efficient tax collection system.
Respecting the No-New-Taxes Commitment
The subsecretary reaffirmed the government’s commitment to not introduce new taxes or raise existing tax rates, adhering to the policy set during the previous administration.
Addressing Public Concerns on Income Woes
For years, civil organizations and international bodies have pointed out the weakness of public income and the necessity for a fiscal reform to bolster it. This would help address public spending pressures and meet population needs.
Pemex’s Budget Line
Bertha Gómez Castro, the Subsecretary of Expenditures at SHCP who conducted the press conference in place of Secretario de Hacienda Edgar Amador Zamora, discussed Petróleos Mexicanos (Pemex) funding.
Continued Support for Pemex
Gómez Castro confirmed that, for the upcoming year, Pemex will once again have a dedicated budget line for receiving transfers via the Secretaría de Energía (Sener). This marks the third consecutive year of such support.
Debt Emission for Pemex
Regarding the recent debt issuance to support Pemex, Rodrigo Mariscal, head of the Unidad de Planeación Económica de Hacienda, stated that details on resource utilization and its impact on fiscal balances will be disclosed in the next quarterly report.
Key Questions and Answers
- What is the main focus of Mexico’s fiscal policies for 2026? The primary emphasis is on modifying the Customs Law and reviewing fiscal spending, rather than implementing a comprehensive tax reform.
- Why is the government reviewing fiscal spending? The SHCP aims to optimize resource allocation by identifying and updating outdated expenditures.
- Will there be any changes to existing tax rates? No, the government reaffirms its commitment to not raise existing tax rates, adhering to the no-new-taxes policy.
- What is the status of Pemex’s funding for 2026? Pemex will continue to receive support via a dedicated budget line for transfers from the Secretaría de Energía (Sener), marking its third consecutive year of such funding.
- When will details on the recent debt issuance for Pemex be available? Information on resource utilization and its impact on fiscal balances will be disclosed in the next quarterly report.
