On 7 June 2024, the Official Gazette of the Federation published changes to Social Security Law. The new digital “IMSS Mailbox” is mandatory for employers and will be the exclusive means for communicating with the Institute. The IMSS will issue general rules for the operation of the IMSS Mailbox within 60 days. Failing to register may mean forfeiting the opportunity to challenge adverse resolutions.
Telecommunications concessions and authorization holders and other companies that own or use telecommunications or broadcasting infrastructure must provide certain information to the Federal Telecommunications Institute through the National Information and Infrastructure System (Sistema Nacional de Información e Infraestructura (SNII)). The obligation to report such information is effective as of July 2024. The SNII is a database that will contain information on active infrastructure and means of transmission, passive infrastructure, rights of way and public and private sites used by operators providing telecommunications or broadcasting services.
Thanks to its proximity to the United States, Mexico has become an attractive investment hub. Mexico’s manufacturing capabilities align well with this trend, positioning the country favorably to seize the opportunity. We hope that this guide will give you an initial perspective into the fundamentals of ramping up operations in Mexico.
Mexican lawmakers have passed amendments to the General Law on Negotiable Instruments and Credit Transactions and the General Law of Credit Organizations and Auxiliary Credit Activities. These amendments allow the issuance of digital versions of credit instruments, such as certificates of deposit, promissory notes, bills of exchange and checks.
On 1 April 2024 new provisions contained in the Financial Code for the State of Mexico will become effective, with regard to the following taxes:
There are also new rates applicable to the Tax on Pollutant Air Emissions (“Air Emissions Tax”), in force since 2022.
On 28 December 2023, the decree which amends, supplements, and abrogates certain provisions of the Mexican Securities Market Law (Ley del Mercado de Valores) and the Law of Investment Funds (Ley de Fondos de Inversión), was published in the Official Gazette (Diario Oficial de la Federación), and entered into force on the following day to its publication, i.e., on 29 December 2023. The decree establishes that the Ministry of Finance and Public Credit (Secretaría de Hacienda y Crédito Público), with the prior opinion of the National Banking and Securities Commission (Comisión Nacional Bancaria y de Valores) (CNBV) and Banco de México, shall issue within a period of no more than 365 days, from the date of its publication, secondary general provisions, regarding sustainable development, in order to strengthen corporate governance, adoption of best market practices and gender equality in corporations, issuers and other participants that operate within the Mexican securities market.
On 21 August 2023, the decree by which the Influencers Advertising Guide of the Federal Consumer Protection Office (PROFECO) was published, which is a reference tool for content creators, influencers, and the general public for due compliance with the provisions on advertising established in the Federal Consumer Protection Law.
On 15 August 2023, the President of Mexico, Andres Manuel Lopez Obrador, published a Decree amending the Tariff Schedule of the General Import and Export Duties Law. The decree focuses on the implementation of temporary import duties ranging between 5% and 25% on goods classified in 392 tariff items covering steel, aluminum, bamboo, rubber, chemical products, oils, soap, paper, cardboard, ceramic products, glass, electrical material, musical instruments, and furniture. These temporary duties are applicable as of 16 August 2023 and until 31 July 2025.
On 15 August 2023, the President of Mexico, Andres Manuel Lopez Obrador, published a Decree amending the Tariff Schedule of the General Import and Export Duties Law. The decree focuses on the implementation of temporary import duties ranging between 5% and 25% on goods classified in 392 tariff items covering steel, aluminum, bamboo, rubber, chemical products, oils, soap, paper, cardboard, ceramic products, glass, electrical material, musical instruments and furniture. These temporary duties are applicable as of 16 August 2023 and until 31 July 2025.
On 1 August 2023, the National Hydrocarbons Commission (CNH) published in the Federal Official Gazette Accord CNH.04.07/2023 that contains General Guidelines for the Operation of the Electronic Single Window. The purpose of these guidelines is to establish the mechanisms through which a person authorized by CNH may file digital briefs, and the CNH may carry administrative procedures through the Electronic Single Window.