MEXICO · ECONOMY
Key Facts
—The headline: The Mexico tax revenue decline reached 1.6 percent in real terms during the first four months of 2026, the first year-on-year drop for the period in five years per SAT data.
—The total: Tax revenue between January and April 2026 totaled 2.071 trillion pesos ($103.5bn), down from the corresponding 2025 figure and 1.9 percent below the SHCP target of 2.111 trillion pesos ($105.5bn).
—The driver: Income tax (ISR) collection reached 1.149 trillion pesos ($57.4bn), 55.5 billion pesos ($2.77bn) below the Ley de Ingresos target, with corporate filings dropping sharply.
