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4h ago

Mexico To End Tax Break on Banks’ IPAB Contributions in 2026

The change will go to Congress as part of the 2026 economic package, with the Finance Ministry set to outline technical details next week before debate begins.

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Claudia Sheinbaum en su conferencia mañanera del 5 de septiembre.
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Overview

  • President Claudia Sheinbaum said banks will no longer deduct their payments to the deposit insurance agency IPAB from taxes starting in 2026.
  • The proposal is included in the Paquete Económico 2026 and seeks to recover roughly 10,000 million pesos in revenue.
  • Hacienda will deliver the package to the Chamber of Deputies on Monday, Sept. 8, and Secretary Édgar Amador will present details in a briefing the following day.
  • Sheinbaum said she discussed the measure with some bank owners and expects the sector to cooperate, noting the change requires legislative approval.
  • IPAB manages deposit insurance and legacy Fobaproa obligations; banks paid 35,074 million pesos in 2024 and 9,489 million pesos in Q1 2025, with coverage capped at 400,000 UDIS per depositor.