Following the completion of tax reforms, the Mexican Government has now signed a Tax Certainty Agreement under which Mexico’s tax system is to remain unchanged throughout the remaining period of the current government. This means that the tax regime would remain unchanged until November 30, 2018. There would therefore be no new taxes, no increases to the current tax rates and no reductions or eliminations of existing tax benefits or exemptions. Also the Government will not propose adjustments to the rates or bases of income tax or value added tax, or to the rates applicable to the special tax on production and services. Tax would only be amended if there were significant economic circumstances that made this necessary. Also, there will be tax changes in connection with reforms to the energy sector.