Question

While the U.S. government rails against Switzerland and other places providing U.S.

corporations with tax advantages or benefits, the Mexican government has similar complaints

about the U.S. government. It appears that the U.S. government permits U.S.

banks to take deposits and pay interest to nonresident foreign nationals from Mexico

without reporting the interest paid to either the Mexican government or the U.S. Internal

Revenue Service. Mexico wants an income and tax information exchange program with

the United States, in part to help fight drug lords who tend not to report taxable income.

Do you agree with the Mexican government’s position on this matter?

Answer 1