Tax Income from Platforms Insufficient: Specialists
Tax Partner Mario Barrera was cited in an article published by Milenio in which he discusses how tax levies on digital platforms have affected tax revenues. He agreed with other industry leaders that these levies have not been the source of revenue that was expected. He also commented on the proposal from the Group of Seven (G7) to impose an additional excess profits tax of at least 15 percent and better share tax revenues from large companies, especially digital companies.
"The G7 proposal is to eliminate the taxes on digital services, as in the case of in Mexico with the Value Added Tax (VAT), and substitute it with an additional one on a certain profit margin," he said. "We will have to see how it works."