SHCP didn’t meet the tax collection objectives.

Tax revenues in Mexico during the January-May period did not meet the expectations set by the Secretaría de Hacienda y Crédito Público (SHCP), as detailed in the Finance and Public Debt Report.

Tax revenue collected 1.92 trillion Mexican pesos, with an annual increase of 3%, but it was 67.565.9 mexican pesos below the projected goal. This performance is mainly attributed to the failure to collect the Value Added Tax (IVA) and the Special Tax on Production and Services (IEPS), two of the country's main taxes, while the ISR (Income Tax) met its collection target. Income Tax (ISR)

Income Tax (IT)

• 17 trillion mexican pesos collected
• +3.1% anual growth
• +43,353 billion mexican pesos regard the expectations.

Value added Tax  (VAT)

• 514,628.7 billion mexican pesos collected
• -5.2% anual growth
• -81,044.8 billion mexican pesos regard the expectations.

Special Tax on Production and Services (IEPS)

• 153,632.9 billion mexican pesos collected
• +58% anual growth
• -29,441.5 billion mexican pesos regard the expectations.

This increase is attributed to the reduction in fuel price incentives, particularly to a 5.0% annual real increase in the component other than gasoline and diesel. However, even with a greater reduction, it fell short of the revenue expectation.