Mexico named best country for tax ‘competitiveness’
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Mexico has been ranked at the top of a new international list for corporate tax ‘competitiveness,’ making it the best place to do business based on a comparative analysis of countries with regard to the ‘total tax burden faced by companies,’ according to the business research firm KPMG.
In the study released Wednesday, Mexico ranked No. 1, repeating its top position for ‘competitive’ tax breaks when KPMG made the same analysis in 2008. The study looked at 95 cities in 10 countries, using U.S. tax costs as the base comparative measurement. Canada came in second overall, followed by the Netherlands and Australia.
In a city-by-city analysis, the Mexican cities of Monterrey and the Federal District (Mexico City) topped the list.
The KPMG study is sure to be reassuring news for large companies operating in Mexico, but not for critics of Mexico’s lopsided tax structure. Not factored in, of course, are sustained fears among outside business leaders over the security situation in Mexico.
-- Daniel Hernandez in Mexico City