Mexico's Finance Ministry targets fuel tax fraud and reports Pemex debt reduction

Mexico's Ministry of Finance (SHCP) is intensifying efforts to combat fuel-related tax fraud, known as ‘huachicol fiscal’. During a Senate appearance, Finance Secretary Edgar Amador Zamora reported that between September 2025 and June 2026, 109 million liters of undeclared hydrocarbons were detected. This volume represents a potential loss of 4.6 billion pesos in VAT and IEPS revenue.

To address this, the SHCP is implementing digital controls, stricter monitoring of importers, and volumetric tracking. The Tax Administration Service (SAT) has already canceled 2,205 digital seals for companies linked to illegal fuel operations. Additionally, coordination with the Ministry of Energy ensures that only companies with valid permits can issue invoices for hydrocarbon sales.

Separately, Amador Zamora highlighted the financial strengthening of Pemex. He stated that during the first two years of President Claudia Sheinbaum's administration, Pemex's debt was reduced to $77.5 billion, its lowest level since 2014. This reduction has led credit agencies to raise Pemex's rating for the first time in 12 years, facilitating its return to capital markets.