ITR Global Tax 50 2022: Raquel Buenrostro Sanchez
Secretariat of the economy, Mexico
Known as Mexico’s ‘iron lady’ of tax, Raquel Buenrostro Sánchez was recently promoted to economy minister and granted more power to build on this tough reputation.
During her four years as head of the Tax Administration Service (SAT), Buenrostro cracked down hard on tax evasion and avoidance, going after large businesses to raise revenue. She also made procurement spending cuts to save the SAT funding at the same time.
A close ally to the Mexican president Andrés Manuel López Oprador (known as AMLO), Buenrostro was given the task of boosting tax revenue through more efficient collection. The president was not afraid to scare businesses to do so, and neither was Buenrostro.
The president had so much faith in Buenrostro that he would often bypass the finance minister to talk to her about tax matters. In return for her hard work, Buenrostro was promoted to economy minister in October 2022.
She is now Mexico’s voice in trade talks with Canada and the US as the three countries review the US-Mexico Canada Agreement, which may be up for a renegotiation from December. This could mean the North American trade deal will undergo face key changes in 2023.
Once the scourge of tax-dodgers, Buenrostro will have tariffs as her main weapon if negotiations don’t go Mexico’s way. The talks could redefine trade across North America.