Banking & Finance

THE MINISTRY OF FINANCE (SECRETARIA DE HACIENDA Y CRÉDITO PÚBLICO) (“SHCP”) AND THE RETIREMENT FUND SYSTEM COMMISSION (COMISIÓN NACIONAL DEL SISTEMA DE AHORRO PARA EL RETIRO) (“CONSAR”) AMEND THE GENERAL PROVISIONS THAT ESTABLISH THE INVESTMENT REGIME TO WHICH SPECIALIZED INVESTMENT COMPANIES OF RETIREMENT FUNDS SHOULD BE SUBJECT.

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On May 31, 2019, the Official Gazette of the Federation (Diario Oficial de la Federación) (“DOF“) published the amendments to the General Provisions that establish the investment regime to which specialized retirement fund investment companies should be subject (Disposiciones de carácter general que establecen el régimen de inversión al que deberán sujetarse las sociedades de […]

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BASHAM, RINGE Y CORREA STRENGTHENS ITS INTELLECTUAL PROPERTY GROUP AND ITS ENTERTAINMENT LAW, COPYRIGHT AND NEW TECHNOLOGIES PRACTICES, AS A RESULT MANUEL GUERRA ZAMARRO, FORMER DIRECTOR-GENERAL OF THE NATIONAL INSTITUTE OF COPYRIGHT (INDAUTOR), JOINED THE FIRM.

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Professional Experience: Manuel Guerra Zamarro, former Director-General of the National Institute of Copyright (INDAUTOR), for 12 years, as well as former President of the Standing Committee on Copyright and Related Rights (SCCR). Manuel has more than 29 years of professional experience related to intellectual property matters such as copyright, entertainment law, trademark, patents, new technologies, […]

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ANNOUNCEMENT OF TRUNK NETWORK PUBLIC TENDER SUSPENSION

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ANNOUNCEMENT OF TRUNK NETWORK PUBLIC TENDER SUSPENSION President Andrés Manuel López-Obrador announced, in his morning press conference today, his decision to suspend the fiber optic Trunk Network public tender proceeding, the second most important telecommunication project of the former administration and expected to be put out to tender in February 2019. López-Obrador explained that the […]

Banking & Finance

THE MINISTRY OF FINANCE (SECRETARÍA DE HACIENDA Y CRÉDITO PÚBLICO) (“SHCP”) AND THE MEXICAN CENTRAL BANK (BANCO DE MÉXICO) (“BANXICO”) PRESENT A PLAN TO BOOST THE MEXICAN FINANCIAL SECTOR.

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THE MINISTRY OF FINANCE (SECRETARÍA DE HACIENDA Y CRÉDITO PÚBLICO) (“SHCP”) AND THE MEXICAN CENTRAL BANK (BANCO DE MÉXICO) (“BANXICO”) PRESENT A PLAN TO BOOST THE MEXICAN FINANCIAL SECTOR. On January 8, 2019, the Ministry of Finance and the Mexican Central Bank presented a plan focused on boosting the financial sector in Mexico. Similarly, the […]

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TAX INCENTIVES TO ELIMINATE THE TAX WITHHOLDING ON INTEREST PAID ABROAD AND TO ENCOURAGE PRODUCTIVE INVESTMENT PROJECTS IN MEXICO

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TAX INCENTIVES TO ELIMINATE THE TAX WITHHOLDING ON INTEREST PAID ABROAD AND TO ENCOURAGE PRODUCTIVE INVESTMENT PROJECTS IN MEXICO An executive order to eliminate the income tax withholding for interest paid abroad on bonds listed in a stock exchange, as well as to grant tax incentives to taxpayers investing in a capital market in Mexico […]

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HIGHWAY NATIONAL INFRASTRUCTURE PROGRAM

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HIGHWAY NATIONAL INFRASTRUCTURE PROGRAM On December 22, 2018, federal government announced a new Highway National Infrastructure Program which aims, among others, to construct pave roads in different municipalities through the Mexican territory, as well as to rehabilitate and terminate highways that as of today are either in bad conditions or were not finished during the […]

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AMENDMENT BILL PROJECT FEDERAL LABOR LAW 2018

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AMENDMENT BILL PROJECT FEDERAL LABOR LAW 2018 On December 22, 2018 a bill to amend and partially repeal various provisions of the Federal Labor Law submitted by the “Morena” Parliamentary Group was published in the Parliamentary Gazette. The bill acknowledges and adopts the principles and directives set out in Chapter 23[1] of the United States-Mexico-Canada […]

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CONSTRUCTION OF THE MAYAN RAILROAD

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CONSTRUCTION OF THE MAYAN RAILROAD On December 16, 2018, Mexican President, Andrés Manuel López Obrador began activities related to the construction of one of the biggest infrastructure projects he has announced to be developed during his administration, the 1,525km (950-mile) Mayan Railroad, same that will link key tourism cities in the Yucatan peninsula such as […]

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THE 2019 GENERAL MINIMUM WAGE

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THE 2019 GENERAL MINIMUM WAGE. On December 17, 2018, the National Minimum Wage Commission (CONASAMI for its Spanish acronym), by tripartite and unanimous ruling of its members, announced that as of January 1st, 2019, the general minimum wage will be increased to Mx$102.68 a day. The increase was calculated by adding Mx$9.43 to the current […]