The Secretary of Finance and Public Credit delivered the 2023 Economic Package to the Congress, which includes the Expenditure Budget Bill (PEF), the Federal Income Law Initiative (LIF) and the General Economic Policy Criteria.
Initiatives in this package
Among the initiatives in the 2023 package are the following:
- Gaceta Parlamentaria, Chamber of Deputies, FINANZAS PÚBLICAS (hacienda.gob.mx)
- Annex A of the Federal Revenues Law for Fiscal Year 2023 (LIF)
- Annex B With the proposed Budget of Expenditures of the Federation for Fiscal Year 2023 (PEF)
- Annex C General Economic Policy Criteria for the initiative of the Revenue Law and the proposed Budget of Expenditures of the Federation for the fiscal year 2023
- Annex D Amending, adding and repealing various provisions of the Federal Law of
- Annex E Adding various provisions of the Federal Budget and Fiscal Responsibility Law
- Annex F Methodological note on the identification of priority attention zones 2021; and proposal for the declaration of priority attention zones 2023.
- Annex G Report on the use of the power conferred to the Federal Executive in tariff matters, submitted in accordance with Article 131 of the Political Constitution of the United Mexican States.
- Annex H List of Rural Priority Focus Areas 2023
- Annex J List of urban priority focus areas 2023
- Annex K Estimated amount of federal resources to comply with the housing subsidy policy for fiscal year 2023
From the above, it is clear that this year there are no initiatives by the Executive with proposals to change or reform laws on tax collection matters such as the Income Tax Law (LISR), Value Added Tax Law (LIVA) and the Federal Tax Code (CFF) that make up the Tax Miscellaneous, which will only update fees and rates for inflation, so taxpayers will not face structural reforms for 2023, and there will be no tax increases either.
The deadlines for approval of the LIF are October 20 and 31, by the Chambers of Deputies and Senators, respectively, and for approval of the PEF by the Chamber of Deputies on November 15.
Highlights to consider
Among the highlights of the package are the following:
It was noted that the PEF for Fiscal Year 2023 has been carried out under the principles of austerity, efficiency and rationality in spending, being congruent with income and macroeconomic variables, all in sustainable balances, presented in the General Economic Policy Criteria 2023, prioritizing social programs with a base of healthy public finances and without macroeconomic imbalances.
It was also emphasized that the tax base will continue to be strengthened through measures against tax evasion and avoidance, as these measures have increased revenues without the need to create new taxes or increase existing ones.
Finally, it is estimated that public debt will remain on a stable and sustainable trajectory, respecting the fiscal targets and debt ceilings established by Congress, to reach 49.4% of Gross Domestic Product in 2023.
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