Energy Prices, Silvergate Capital and SAT in the Spotlight
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Energy Prices, Silvergate Capital and SAT in the Spotlight

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Antonio Gozain By Antonio Gozain | Senior Journalist and Industry Analyst - Thu, 01/05/2023 - 15:50

In 2022, SAT collected MX$233.27 billion (US$11.66 billion) from audits of large taxpayers, a 3.5 percent real increase compared with 2021. Last year, SAT collected MX$139.28 billion (US$7.21 billion) more from large taxpayers than in 2018, a 103.1 percent increase.

SAT labels as large taxpayers those companies or individuals that have a yearly income of at least MX$1.5 billion (US$75 million). In Mexico, there are about 12,000 companies considered as large taxpayers, which make up 0.4 percent of the total taxpayers in the country but contribute about 47 percent of the total tax collection, according to Héctor Amaya, Vice President, Mexican Institute of Public Accountants (IMCP).

 

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Gas, Oil Prices Sink Amid Economic Worries

Energy prices worldwide started 2023 lower as warm winter weather and concerns regarding the global economy weigh on the market, reported the Financial Times. The fall in prices sharply contrasts with early 2022, when the Russia-Ukraine war triggered concerns about energy supplies, sending prices surging. 

Phishing on the Rise

As technology adoption grows, financial frauds through practices such as phishing are expected to increase in 2023.

The US Cybersecurity and Infrastructure Security Agency (CISA) has revealed that in 80 percent of the assessed organizations, at least one individual fell victim to a phishing attempt. In addition, users interacted with a malicious link in 10 percent of the phishing emails received, as cybersecurity products designed to protect companies’ networks failed to block about 70 percent of malicious files or links.

A Polarized Economic Outlook for Mexico

The year 2023 comes with polarized expectations for Mexico in financial and economic terms. On one hand, the growth of the nearshoring trend represents a magnet for investment and possibilities for internal change in the country. On the other hand, the global recession expected by experts in the financial sector and inflation put in doubt what will be the country’s outcome for this year.

Silvergate Capital Shares Sink as Crypto-Related Deposits Plunge

Silvergate Capital, the leading provider of innovative financial infrastructure solutions within the digital currency industry, reported a sharp drop in 4Q22 in crypto-related deposits as investors pulled out over US$8 billion in capital, sending shares down by 40 percent premarket. In addition, the crypto bank said it would cut its workforce by 40 percent, as it tries to rein in costs amid a deepening industry downturn.

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