In a significant move aimed at reforming tax collection in Mexico, President Claudia Sheinbaum announced on April 15, 2025, that Banco Azteca, owned by businessman Ricardo Salinas Pliego, will no longer be authorized to receive tax payments on behalf of the Treasury of the Federation. This decision comes in the wake of an audit that revealed serious irregularities among banks authorized to collect taxes, with an average of 18,000 instances of non-compliance reported each month.
During her morning conference, Sheinbaum detailed that many banks had been holding onto the tax payments for extended periods, sometimes failing to transfer the funds to the Treasury altogether. "These practices have been eliminated, and now tax payments are registered almost immediately, without opportunities for diversion," she stated, emphasizing the urgency of the reforms.
The audit, conducted by the Treasury of the Federation (Tesofe) under the leadership of Elvira Concheiro, who is now the Subsecretary of the Secretariat of Women, revealed that some banks were not only retaining the resources but also failing to deliver any interest to the public treasury. This led to a situation where taxpayer funds were essentially being mismanaged.
Sheinbaum's administration, recognizing the need for transparency and efficiency in tax collection, has taken decisive steps to address these issues. "There were banks that no longer participate in tax collection, and one of them is Banco Azteca," she confirmed. This particular bank had faced scrutiny not only for its tax collection practices but also due to a significant debt of over 60 billion pesos owed to the SAT (Tax Administration Service) for unpaid taxes.
In her remarks, Sheinbaum praised Concheiro's efforts in rectifying the situation, stating, "Elvira did an excellent job, and that is over; what is paid in taxes is reported the next day at the latest, and this is regulated." She highlighted that the government is now exploring additional options for tax collection, including the possibility of integrating Banco del Bienestar as a primary route for these transactions, thereby reducing reliance on private banks.
The President's focus on reforming tax collection comes amid broader efforts to combat corruption within financial institutions. She reiterated that the mechanisms of corruption previously employed by private banks, which included holding onto public funds and profiting from interest, have been eradicated. "There is no longer this problem of banks 'jineteando' (holding onto) money and keeping the interest. That has ended," she asserted, indicating a commitment to ensuring that taxpayer money is handled appropriately.
Moreover, Sheinbaum's government is conducting a comprehensive review of how authorized banks operate in relation to tax payments. This review aims to identify further alternatives to private institutions, ensuring that the collection process is both transparent and efficient.
As part of this initiative, the Secretary of Finance has been instructed to conduct a thorough assessment of the current tax collection framework. Sheinbaum expressed the importance of finding solutions that prevent any potential corruption and streamline the process for taxpayers. "We need to ensure that public resources reach where they should be, without delays or mismanagement," she emphasized.
In conclusion, the recent changes in tax collection practices mark a pivotal moment for Mexico's financial governance. The exclusion of Banco Azteca and the commitment to reform by President Sheinbaum's administration signal a strong stance against corruption and a move towards greater accountability within the banking sector. The administration's efforts to integrate more reliable institutions like Banco del Bienestar into the tax collection process reflect a strategic approach to enhance public trust and ensure that taxpayer contributions are managed with the utmost integrity.
