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Executives Say Fiscal Reform Is A Setback: Survey.
Internet Securities, January, 2002
MEXICO CITY, Jan 21, 2002
More than 80 percent of corporate chiefs in Mexico believe the tax changes approved by Congress are a setback for the Mexican fiscal system and will negatively affect the development of their companies, according to a survey by KPMG. Some 30 percent of respondents said the changes to the Value Added Tax (IVA) will affect their company's activities the most, reported Mexico City daily Reforma. The next highest-rated factor was Congress' changes to wages and salaries, where 27 percent of respondents said this would have the greatest affect on their company. KPMG surveyed 300 companies of various sizes, established or with a presence in Mexico.
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