Mexico’s Senate approved the Federal Revenue Law for Fiscal Year 2027, which estimates total revenue of MXN 10.636 trillion. The Chamber of Deputies earlier extended the Tax Regularisation Programme to all taxpayers with tax debts.
Mexico’s Senate of the Republic approved the bill enacting the Federal Revenue Law for Fiscal Year 2027 on 27 October 2026, according to Bulletin No. 0356. The Senate’s Board of Directors ordered the bill to be sent to the Federal Executive.
The bill passed in general terms by 75 votes to 34, and in particular by 73 votes to 33. The Senate rejected amendments from senators of the Institutional Revolutionary Party (PRI), the National Action Party (PAN), the Ecologist Green Party of Mexico (PVEM) and the Citizens’ Movement party.
Revenue estimates
The law projects MXN 6.264 trillion from taxes, MXN 702.565 billion from social security contributions, MXN 20.5 million from improvement contributions and MXN 177.186 billion from fees.
It also expects MXN 15.077 billion from products, MXN 329.480 billion from exploitation charges and other receipts, and MXN 1.458 trillion from the sale of goods, provision of services and other income. Transfers, allocations, subsidies, grants, pensions and retirement benefits are estimated at MXN 210.774 billion, while financing accounts for MXN 1.480 trillion. The law projects a participable federal revenue pool of MXN 5.723 trillion.
Borrowing authorisations
The Federal Executive may contract net domestic borrowing of up to MXN 1.7 trillion, under the Federal Public Debt Law, to finance the Federal Expenditure Budget.
Petróleos Mexicanos (Pemex) may take net domestic borrowing of up to MXN 160.620 billion and net external borrowing of up to USD 5.259 billion. The Federal Electricity Commission (CFE) may take net domestic borrowing of up to MXN 16.742 billion and net external borrowing of up to USD 725 million. Mexico City may take net borrowing of up to MXN 3.5 billion.
Timeline
On 9 October 2026, Deputy Ricardo Monreal Ávila (Morena) presented a reservation to the Twenty-First Transitory Article. He said it followed a meeting between President Claudia Sheinbaum Pardo and the Business Coordinating Council.
On 14 October 2026, the Chamber of Deputies approved the report with changes (Bulletin No. 4710), by 340 votes to 109 with no abstentions, and sent it to the Senate. The Senate approved the bill on 27 October 2026.
Tax regularisation programme
The accepted reservation removes the MXN 300 million income limit from the programme for 2027. The Twenty-First Transitory Article now grants a tax incentive to natural persons and legal entities liable for final or consented tax credits administered by the Tax Administration Service (SAT) or the National Customs Agency of Mexico.
Monreal said the programme eliminates fines, surcharges and enforcement costs, but the tax itself must be paid in full. Under the limit, SAT recovered MXN 6.436 billion from 38,399 taxpayers. He said nearly 30 million taxpayers could hypothetically benefit, including about 16,000 large taxpayers, who contribute MXN 2.3 trillion to the treasury.
Debate
Morena deputies said the measure is an incentive, not a tax waiver. Monreal cited Article 28, which prohibits waivers and exemptions.
Deputy Federico Döring Casar (PAN) called it “an unconstitutional clean slate”. Deputy Emilio Suárez Licona (PRI) said it “is unconstitutional and technically incorrect”.
With the Senate’s approval, the Federal Revenue Law for Fiscal Year 2027, including the expanded Tax Regularisation Programme, now passes to the Federal Executive.
