The government of Andrés Manuel López Obrador it will stop collecting 259 thousand 409 million pesos this year for not collecting VAT on food and medicine, and another 274 thousand 404 million more in 2021, according to data from the Ministry of Finance and Public Credit (SHCP).
The amount is equivalent to a little more than 1 point of the Gross Domestic Product (GDP), according to the Fiscal Expenses report released by the agency.
The resources that this administration will not obtain in this way equivalent to twice the size of one of the star programs of this government: Pension for the Welfare of Older Adults, which this year has budgeted more than 126 billion pesos.
Although President Andrés Manuel López Obrador has spoken out against the application of taxes to these two goods due to the impact it will have on the pockets of Mexican households, the data from the Treasury show that the most benefited from the non-application of VAT They are the families with the highest incomes.
“The application of the zero rate and the VAT exemptions represents a tax transfer for all households, regardless of their income level, since it is generally granted,” the agency details.
Later, the report explains that households in the first decile, that is, families with lower incomes in Mexico, are those that receive a lower proportion of the transfer than fiscal spending implies, while those in the highest decile concentrate the highest part.
“This is due to the fact that the richest households concentrate most of the food expenditure,” explains the Treasury.
The same benefit occurs with medicines. The wealthiest households are the ones with the highest zero rate transfer, regarding those with lower incomes.
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