PEMEX Farm Out Tender Procedure CNH-A2-AYIN-BATSIL/2017

Publicada en Deja un comentarioPublicada en Energy, English, Infrastructure, Mining

On March 07, 2017, the National Hydrocarbons Commission (“CNH”) released the call related to the second PEMEX farm out, CNH-A2-AYIN-BATSIL/2017, for the wells known as “Ayin-Batsil” which are located in shallow waters of the Mexican Gulf. Below are the main aspects to be considered in this farm out procedure: Bidding guidelines / Required Experience: Three […]

Third Wholesale Electric Market Auction

Publicada en Deja un comentarioPublicada en Energy, English

Third Wholesale Electric Market Auction The National Center of Energy Control (“CENACE” for its acronym in Spanish) has recently announced its intention to release, on April 28, 2017, the bidding guidelines for the third wholesale electric market auction. Pursuant to the latest information released, CENACE is currently reviewing the final changes and additions to the […]

Executive Order for the Repatriation of Funds in 2017

Publicada en Deja un comentarioPublicada en English, Tax, Wealth Planning

On January 18, 2017, there was published in the Federal Official Gazette an “Executive Order providing for income tax incentives for the repatriation of deposits or investments maintained abroad” (the “Order”), so as regularize the taxpayer’s tax liability by the payment of the income tax at a reduced rate and with no additional government charges. […]

Liberaton of Fuel Markets

Publicada en Deja un comentarioPublicada en Energy, English, Infrastructure, Mining

The Energy Regulatory Commission (“CRE”) has recently announced the timeline applicable for the liberation of fuel markets. Pursuant to CRE ruling, during the following year, the gasoline and diesel markets will move from a single supplier model to an open and competitive scheme, where multiple players will supply fuels throughout the territory. By the new […]

Fourth Tender, Round 1. Exploration and Extraction Contracts in Deep Waters PEMEX Farm Out

Publicada en Deja un comentarioPublicada en Energy, English, Infrastructure, Mining

On December 5, 2016, the National Hydrocarbons Commission (“CNH”) announced the results related to CNH-A1-Trion/2016 and CNH-R01-L04/2015 tenders. CNH-A1-Trion/2016 Tender. PEMEX Farm Out. Since the two economic offers submitted to CNH proposed an additional royalty of 4.00%, the tie-break rule provided in the bidding guidelines was applied to determine the winning bidder. BHP Billiton Petróleo […]

Pemex Logistics Open Season

Publicada en Deja un comentarioPublicada en Energy, English, Infrastructure, Mining

On December 20, 2016, Pemex Logistics published the call and specifications to participate in the Open Season Procedure for the fuel Storage Systems and Pipeline Transportation. Pursuant to said call, the following storage capacity was announced: System Open Season   Barrels Percentage Rosarito   Subtotal: 161,600 15% Rosarito 132,281 15% Ensenada 22.532 23% Mexicali 6,788 […]

OECD BEPS NEWS-Multilateral Convention and CbC Reports

Publicada en Deja un comentarioPublicada en English, Litigation, Tax Advisory

On July 2013, the Organization for Economic Co-operation and Development (“OECD”) issued a plan consisting of 15 Actions to fight tax base erosion and profit shifting by multinational enterprises known as “BEPS”. Action 13 of the plan consists on performing a new transfer pricing documentation analysis, while Action 15 suggests implementing a multilateral agreement by […]

THE REPRESENTATIVES OF THE NATIONAL WAGES COMMISSION BOARD UNANIMOUSLY RESOLVED TO INCREASE THE CURRENT MINIMUM WAGE AMOUNT IN MEXICO

Publicada en Deja un comentarioPublicada en English, Labor

On December 1st, 2016, the Labor and Social Security Ministry released through an informative note, that the representatives of the National Wages Commission Board (known as “CONASAMI”), in the performance of their duties and authority, unanimously resolved to increase the current minimum wage amount in Mexico to $80.04 pesos effective on January 1st, 2017. The […]

Updating of the Financial Intelligence Unit´s Interpretation on Outsourcing Matter

Publicada en Deja un comentarioPublicada en Administrative, Anti-Money Laundering Law, English

The Mexican Financial Intelligence Unit (“UIF” for its acronym in Spanish), of the Treasury Ministry issued an interpretation regarding Outsourcing matter. The UIF considered this kind of activity, outsourcing, as a Vulnerable Activity under the Federal Act to Prevent and Identify Illegally-Funded Transactions, and therefore, subject of identification and reporting obligations. To the query formulated […]

Financial Intelligence Unit´s Interpretation on Outsourcing Services

Publicada en Deja un comentarioPublicada en Administrative, Anti-Money Laundering Law, English

Recently, the Mexican Financial Intelligence Unit (“UIF” for its acronym in Spanish), of the Treasury Ministry issued an interpretation regarding Outsourcing services. The UIF considered Outsourcing Services as a Vulnerable Activity under the Federal Act to Prevent and Identify Illegally-Funded Transactions (“Act”) According to the referred interpretation, the render of independent professional services, on behalf […]