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Today is a groundbreaking day for North America as the new United States–Mexico–Canada Agreement (USMCA/CUSMA/TMEC) enters into force, replacing NAFTA. This new agreement is one of the most modern free trade agreements in the world as it addresses the challenges that the XXI Century brings to the regional trade. The most important changes of theLeer más

EXTENDED DUE DATE FOR THE ENFORCMENT OF THE NEW ELECTRONIC FOREIGN TRADE PAYMENT (PECE)   On June 14, it was published on the official gazette, the «Agreement that modifies the Rules for tax collection by the financial institutions» which extends until September 17, 2018, the entry into force of the new scheme for electronic paymentLeer más

THE MINISTRY OF ECONOMY PROHIBITS THE IMPORT OR EXPORT OF VARIOUS GOODS FROM OR TO NORTH KOREA AND IRAN   The Ministry of Economy published the “Agreement that establishes preventive actions to export or import of various goods to certain countries, entities and persons”, in compliance with various Resolutions adopted by the Security Council ofLeer más

RETALIATORY MEASURES AGAINST THE U.S. AFTER THE INCREASE IN TARIFFS AND NEW EFFORTS TO PROMOTE THE HEALTHY COMPETITION IN THE NATIONAL STEEL INDUSTRY. On June 5th, the Ministry of Economy published the «Decree that modifies Import and Export Tariff, the Decree that establishes the applicable duty rate for goods originating in North America and theLeer más

AMENDMENTS TO THE CUSTOMS LAW RELATED TO THE IMPORT OF HYDROCARBONS.   On June 1st, 2018, it was published on the official gazette, the «Decree that amends legal provisions of the Federal Tax Code, Customs Law, Federal Criminal Code and Federal Law to prevent federal crimes related to the Hydrocarbons sector”.   The most relevantLeer más

Amendment to the General Foreign Trade Rules for 2018.   On March 15, 2018 the SAT published on their website the draft version of the amendment to the General Foreign Trade Rules for 2018.   The amendment addresses specifically the rule 3.1.37 related to the requirement to use the PO acronym when applying FTA benefitsLeer más

Sign of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.   On March 8, 2018 the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was signed in Santiago de Chile   The 11-member countries of the CPTPP are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.   The agreement retainsLeer más

The United States of America announced tariffs to Steel and Aluminum products.   Due to recent investigations directed by the U.S. Department of Commerce, related with the shrinkage of internal production, increase on imports and alleged national security risks, President Trump issued two presidential proclamations imposing global tariffs to steel and aluminum imports, the highlightsLeer más

On October 14, 2016, the Tax Administration Service (“SAT”) and its U.S. counterpart, the Internal Revenue Service (“IRS”), sent similar press releases to announce the culmination of two years of collaboration to establish a new transfer pricing procedure to avoid double taxation in the maquiladora industry. This new framework proposes to solve more than 700Leer más

Starting from July 1st[1], it will be necessary to comply with the provisions stated in rules 3.1.35 and 3.1.36 of the General Foreign Trade Rules (RGCE for its acronym in Spanish), which oblige to state the number of the “Online Digital Tax Invoice” (CFDI by its acronym in Spanish) on the export document. The aforementionedLeer más