AMLO Hates Calling It a ‘Tax Hike’ But Mexicans Are Paying More

• Mexico’s president vowed not to raise taxes, but they’re creeping up anyway as the government struggles to boost revenue in a stagnant economy.
• From Jan. 1, Mexicans started to pay increased levies on gasoline and sugary drinks. Taxes on cigarettes, in the meantime, went up 41%. And soon digital platforms such as Airbnb Inc. and Netflix Inc. will also start collecting value-added and income taxes from users.
• Ask President Andres Manuel Lopez Obrador’s team and they will say these are mostly inflation-adjusted hikes, and that the government has kept its promise to steer clear of tax increases.
• Mexico’s economic slowdown is throwing water on his campaign pledge that more-efficient state contracts and a crackdown on corruption would be just enough to cover for spending.

(Source: Bloomberg)