Government Fiscal Reform Will Seek to Curb Mexico's Informal Employment Juan Carlos Cruz Vargas - Proceso
go to original April 11, 2013

Mexico's Secretary of the Treasury (SHCP), Luis Videgaray, affirmed that the tax reform to be presented to Congress in the second half of 2013 will have among its principal objectives combating the informal economy.

At the eighth Mexican Financial Summit, speaking before foreign investors, officials and executives of financial corporations, the Secretary listed each one of the reforms sought by the Enrique Peña Nieto administration. To start, he gave a warning about informal employment: “If something has hurt the productivity of the Mexican economy, it is the fact that, according to the most recent statistics, more than half of the workforce is working informally.”

In fact, according to the National Institute of Statistics and Geography (Inegi), in Mexico there are around 29 million people who have informal jobs, out of an Economically Active Population of approximately 52 million. In other words, 6 out of every 10 Mexicans work without benefits, social security, or fixed wages, in addition to not contributing to the tax system.

Read the rest at Mexico Voices

Translated by Alise Rule

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