The Mexican Tax Administration (SAT) has published three lists of effective income tax rates on the income of large taxpayers for fiscal years 2020 and 2021. The first list, second list, and third list each provide effective rates for taxpayers involved in 40 different economic activities (120 in total), which are used by the SAT in assessing tax risks. Lists for fiscal years 2016, 2017, 2018, and 2019 were published in 2022. The SAT works to facilitate taxpayer compliance by contacting taxpayers whose effective rate is lower than the listed effective rates in order to conduct an analysis, and where...