Daily Tax Report: International
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Femsa Joins Walmex in Big Tax Payments to Mexico This Week

Fomento Economico Mexicano SAB has joined Walmart de Mexico SAB in paying up billions of pesos in back taxes this week in a win for President Andres Manuel Lopez Obrador’s administration, which has been trying to lift government revenue in a bid to cover spending.

TAX VIRUS BRIEFING: Small-Business Bill Gains, No New Money Talk

Expansion of the in-demand but problem-plagued Paycheck Protection Program got a push toward extension in the House this week, with prospects for Senate action along similar lines to follow. A new big U.S. virus aid package is still many weeks off, though. And the European Commission floats the idea of new taxes as a way to pay pandemic debt.

Citi Banker Sees Nations Targeting Rich to Pay Virus Costs (1)

Citigroup Inc.’s Luigi Pigorini has lived through plenty of economic crises. Still, he hasn’t seen a downturn as rapid as the one spawned by the novel coronavirus. And as nations seek to recoup the cost of the pandemic, the result will likely be that some of the world’s biggest fortunes end up in the crosshairs, Pigorini said.

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