2 Minutes Read FILE PHOTO: Mexican Deputy Finance Minister Gabriel Yorio is seen during a Reuters interview at Mexico City’s National Palace on September 9, 2020. REUTERS/File Photo/Henry Romero (Reuters) – MEXICO CITY (Reuters) – A top finance ministry official said on Thursday that if a worldwide minimum corporate tax were to go into place, Mexico could earn nearly $1.5 billion in revenue, as governments around the world debate a revamp of the system. After two days of negotiations held by the Organisation for Economic Cooperation and Development (OECD), the majority of countries participating in the talks have endorsed ideas for new restrictions on where corporations are taxed and a tax rate of at least 15%. In a tweet, Mexico’s Deputy Finance Minister Gabriel Yorio stated that the country could raise at least 30 billion pesos ($1.5 billion). He didn’t say how long it would take. In June, the Group of Seven industrialized nations reached an agreement on a minimum tax rate of at least 15%. At a summit in Venice next week, the Group of Twenty major economies will consider the broader deal for political approval. The Mexican government announced last month that it supports the idea, and Yorio reaffirmed that view on Twitter on Thursday, saying that the main goal was to promote stable and equitable tax systems. $1 equals 19.9890 pesos in Mexico. Ana Isabel Martinez contributed reporting, Stefanie Eschenbacher wrote the story, and Bill Berkrot edited it./n
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