As we anticipated yesterday, the decree issued by the President of Mexico, Andrés Manuel López Obrador, by means of which it revokes the decrees and diverse general provisions granting tax write-offs (the “Decree”) was published in the Federal Official Gazette yesterday evening.

The Decree states that in previous federal governments, the objective of offering taxpayers such tax facilities became distorted until reaching the point of granting generalized tax write-offs, that were practically automatic and without a clear vision of public policy, causing a break in public finances...