On September 8, 2019, the Executive Branch submitted to Congress the Economic Package for Fiscal Year 2020 (the “Economic Package”). Such package includes, among others, the Federal Revenue Law initiative, the initiative that reforms several tax provisions (“Tax Miscellaneous”) and the Federal Expenditure Budget. The modifications included in the Economic Package are not final, since they will be subject to discussion, modification and approval by the Chamber of Representatives and the Senate, for its subsequent approval by the Federal Branch and its publication in the Federal Official Gazette.
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We are honored to share with you the practice areas partners and associates of our firm, which have been recognized as leaders by The Legal 500.
Student competence and the training of future professionals
Our partner Horacio M. de Uriarte and our associates Aisha Calderón and Enrique Fajer collaborated with Latin Lawyer in their most recent publication Reference Electricity Projects and Regulation 2019.
Our Firm has been recognized as Elite Firm 2019 by Latin Lawyer. The aspects considered in this recognition are institutional strength, international outlook and social responsibility.
According to the transitory articles of the Law to Regulate Financial Technology Institutions (the “Fintech Law”), on September 25, 2019 will expire the term that the persons who carry out operations regulated by the Fintech Law have to obtain or request the applicable authorization from the Banking and Securities National Commission in order for such person to continue with their operations.
On August 20, 2019, the First Resolution of Modifications to the Tax Miscellaneous Resolution for 2019 and its annexes 1 and 1-A were published in the Federal Official Gazette, which came into force the day after its publication. Among the changes made, it is worth highlighting that rules 18.104.22.168., 22.214.171.124., 126.96.36.199., 188.8.131.52. and 184.108.40.206 have been unexpectedly repealed. Such rules established an optional procedure to comply with the income tax (“IT”) and value added tax (“VAT”) obligations in relation to labor outsourcing.
One of the laws that have generated the most debates for its value in fighting crime is the National Domain Extinction Law. Its objective is to unify rules that allow federal and state authorities to favor the loss of rights over assets of a personal nature, both of natural persons and companies.
According to the Official Gazette of Mexico City, it has been established that the validity through which all debts, tax fines, surcharges and ordinary execution costs of contributions in Mexico City are forgiven, has been extended until 2 September 2019