Local media, such as El Mundo newspaper, reported that the lending institution recommends a higher tax rate on cigarettes and alcoholic beverages, as well as on vehicle registration and VAT on digital services.

These actions were agreed upon in lengthy negotiations that state that if the country does not collect enough money in the midst of a fiscal adjustment to correct distortions in the public accounts, there will be penalties, especially affecting social sectors.

El Mundo pointed out in its approach to the subject that in the final report of the first review of the Extended Service Program, published on Tuesday, the IMF highlighted that the fulfillment of the fiscal goals in the 2025 fiscal year is essential, but, if tax revenues are not enough, it offered a battery of tax proposals.

The range of proposals includes the introduction of a tourist entry fee for non-residents of US$20, as well as increasing the excise tax levied on cigarettes and alcoholic beverages.

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