No major personal-income-tax reform under Sheinbaum administration

Despite pre-election expectations, the Sheinbaum administration (inaugurated October 2024) did not enact material reforms to Mexican personal income tax in its first year. Top marginal rate remains 35%, ISR brackets indexed to UMA. SAT focus has been on enforcement (CFDI 4.0 e-invoicing, RFC enrolment for foreign residents) rather than rate changes.