Mexico has the lowest total taxes for businesses in the world,said acclaimed business analysts,KPMG,this week.
In a special tax competitiveness report,the international financial experts said Mexican business taxes are 40.1% lower than in the U.S. and Mexico remains the world's most affordable place to do business.
Within Mexico itself,KPMG found that Mexico City and Monterrey were the most competitive cities for businesses to operate.
The report studied 10 countries and covered a total of 95 cities. After Mexico came Canada,followed by the Netherlands and Australia.
The Los Angeles Times newspaper said the study "is sure to be reassuring news for large companies operating in Mexico."
The news came just weeks after KPMG published their biannual Competitive Alternatives 2010 report showing Mexico is 18.2 percent cheaper for doing business than the U.S.,when all costs are examined as a whole.
KPMG has as an international network of audit,tax and advisory services firms in over 140 countries worldwide.
To read the full report visit KPMG's Competitive Alternatives website.