Carstens will appear before Senate panels today to address tax questions about the proposed 2010 budget
El Economista
Treasury Secretary Agustin Carstens will appear on Wednesday before the committees of Finance and Legislative Studies of the Senate to clarify points various legislators have in analyzing the Calderon administration's 2010 fiscal package.
In an interview, José Isabel Trejo, chairman of the Finance Committee, said that Carstens appearance has been requested to resolve senators' doubts.
The legislator said he expects that the tax package will be approved with modifications by Thursday and will be sent to the Chamber of Deputies to endorse the changes by Oct. 30 or Oct. 31.
Questions will focus specifically on proposed increases in the Value Added Tax (VAT), the Income Tax (ISR), the Tax on Cash Deposits (IDE) and in general on the complete proposed Revenue Act 2010.
Isabel Trejo said most of the discussion with Carstens is expected to deal with a proposed 3 percent tax on telecommunications and the Internet. Critics have warned that the tax will further hinder Mexico's participation in new technologies that are driving economic development.
Members of the Partido Revolucionario Institucional, or PRI, on the committees have proposed removing the 3 percent tax on connecting and using the Internet, he noted, and there is another proposal to lower the tax.
Also to be discussed are seven articles of the Tax Code relating to taxation of the money in the country's sizeable afores retirement funds.
The Senate panels hope to take action on the budget immediately following Carsten's appearance before them, Isabel Trejo said.
