Mexico City, April 30th, 2020. Last April 24th, United States notified Mexico and Canada that its domestic procedures to implement the USMCA had been completed. With this, the United States became the third country to perform such diligence, completing the final step for the USMCA to enter into force. In accordance with paragraphRead more
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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 ofRead more
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 paymentRead more
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 relevantRead more
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 benefitsRead more
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 retainsRead more
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 700Read more
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 aforementionedRead more
