On September 8, 2022, the Federal Executive through the Ministry of Finance and Public Credit presented to the Congress of the Union the proposal for an Economic Package for the year 2023, which is integrated by: i) General Economic Policy Criteria (CGPE), ii) Revenue Law of the Federation (LIF), iii) Federal Law of Rights (LFD) and iv) Budget of Expenditures of the Federation (PEF).

Some figures expected according to the 2023 Economic Package are as follows:

1. Growth of the economy of 3%.
2. Expected annual inflation of 3.2%.
3. Exchange rate of $20.62 pesos per dollar.
4. Price of the Mexican blend of $ 68.7 dollars a barrel.
5. Tax collection of $4.6 billion pesos.
6. Total revenues of $8.2 billion pesos.

From the economic package for the year 2023 we highlight the following:

1. It does not propose the creation of new taxes or the increase in the rates of existing taxes.
2. The fiscal incentives contained in the LIF remain unchanged.
3. Increase in the withholding rate for interest paid by the financial system from 0.08% to 0.15%.

We put at your disposal the link where the full document can be consulted:

https://www.finanzaspublicas.hacienda.gob.mx/es/Finanzas_Publicas/Paquete_Economico_y_Presupuesto

https://www.gob.mx/shcp/prensa/comunicado-no-64-secretaria-de-hacienda-y-credito-publico-entrega-paquete-economico-2023-al-congreso

We will be informing our clients if there are adjustments to the aforementioned documents based on the discussions that take place in the Chamber of Deputies and Senators.

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Mexico City, Mexico

September 2022