Pemex's problems aggravated by unfair tax burden, says Mexican Deputy Finance Minister

Pemex's problems aggravated by unfair tax burden, says Mexican Deputy Finance Minister

Bonds Debt Corporate & Sovereign Strategy Economy & Policy Fixed Income Mexico

The worsening financial condition of Mexico’s state-run oil giant Pemex was exacerbated in recent years by an unfair tax structure that placed additional burden on the company to make up for the government’s poor tax collection, Mexican Deputy Finance Minister Arturo Herrera said Tuesday during LatinFinance’s finance summit in Mexico City. “Actually, the problem of Pemex is hiding a different problem, a problem of tax collection by the federal government,” Herrera said. “The tax treatment of Pem

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