Open Source Content Management

Although the approved Economic Package for Fiscal Year 2022 did not increase the Income Tax rate (ISR) to be paid by legal entities, it does contain a modification whose practical effect will be that many Mexican auto parts companies pay more ISR for the maquila operation they carry out.

If ESG is a process for managing risks, it is reasonable to anticipate that a solid process better prepares the company to face a crisis, says Pablo Jiménez Zorrilla.

On October 18, 2021, the “Resolution instructing the indicated agencies to take actions in relation to the definitive importation of used vehicles” was published in the Federal Official Gazette, in which the President of the Republic instructs certain governmental agencies to adopt measures for the regularization of used vehicles of foreign origin whose legal stay in the country cannot be proven.

On September 22, 2021, the Plenary of the Federal Judiciary Council approved the creation and commencement of functions of the Third District Court in Administrative Matters, specialized in Antitrust, Broadcasting and Telecommunications (“Third Court”), residing in Mexico City and with jurisdiction throughout the Mexican Republic.

Edmond Grieger of Von Wobeser & Sierra explains why an effective game plan is crucial for investors, sponsors and developers working on clean energy projects.

https://www.iflr.com/article/b1tx78n4hkqb9z/integrating-effective-esg-strategies-for-renewable-energy-projects-in-mexico

On September 30, 2021, the President of Mexico presented the “Initiative of Decree amending Articles 25, 27 and 28 of the Political Constitution of the United Mexican States in matters of energy and natural resources” (the “Amendment Initiative”) before the Chamber of Deputies, which, if approved under its terms, would represent fundamental changes in Mexico’s energy industry.

On June 3, 2021, the Federal Executive branch published the DECREE enacting the Law for Transparency, Prevention and Combat of Improper Practices in Advertising Contracts (the “Marketing Law”) in the Federal Official Gazette. The Marketing Law shall enter into force on September 1, 2021, and be applicable to all acts, contracts, agreements, or procedures entered into between two or more of the economic agents referred to thereunder (namely, media agencies, advertisers, and media), provided that the relevant advertiser resides in Mexico and the advertisement is disseminated within the Mexican territory.

Leading law firm Von Wobeser y Sierra announced the creation of a new Environmental, Social and Governance (ESG) practice group to provide integrated legal services. The initiative is a response to a growing demand in evolving global markets such as Mexico, where ESG-based issues continue to gather more attention.

Von Wobeser y Sierra, S.C. announces the creation of its ESG (Environmental, Social and Governance) practice group to provide our clients legal advice on their risks and opportunities in an evolving business environment through an experienced and multidisciplinary team. Von Wobeser is one of the first Mexican law firms to launch a fully integrated practice group to provide legal services with an ESG perspective.

 Over the last few days two bills were presented to extend deadlines in order to facilitate complying with the new obligations in labor, social security and tax matters with respect to the subcontracting reform published in the Federal Official Gazette (DOF) on April 23, 2021 (Reform).

Yesterday a decree was published in the Federal Official Gazette issued by the President of the Republic which creates the National Customs Agency of Mexico as an administrative body of the Ministry of Finance and Public Credit (SHCP) and independent from the Tax Administration Service (SAT).

On June 11, 2021, the Seventh Resolution of Amendments to the General Foreign Trade Rules (“Seventh Amendment”) was published in the Federal Official Gazette. This Seventh Amendment included a restriction on the granting or extension of authorizations for the entry or exit of certain types of hydrocarbons from Mexican territory through places different from a customs precinct, in order to establish that they may only be granted to productive companies of the State (e.g. Pemex) and their subsidiaries.

Mexico’s largest brewer Grupo Modelo has enlisted local law firm Von Wobeser y Sierra SC to form a joint venture with Canadian software company VSBLTY and Mexican marketing company Retailigent to develop and install a digital in-store media network.

On June 30, 2021, the Federal Ministry of Energy (“SENER”) announced the new Program for the Development of the National Electricity System 2021-2035 (“PRODESEN”).

In mid-June, Pablo Jiménez Zorrilla joined Von Wobeser y Sierra as a partner in the corporate and M&A practice, where he is co-leader with Luis Burgueño, also a partner of the Mexican law firm. In an interview with LexLatin, the firm informed that one of Jiménez Zorrilla’s initial projects on the strategic front is to launch the ESG (Environmental, Social and Corporate Governance or ESG) practice group, in close coordination with other partners.

On June 3, 2021, the Federal Executive branch published in the Federal Official Gazette the DECREE enacting the Law for the Transparency, Prevention and Combat of Improper Practices in Advertising Contracts (the “Law”), which introduces relevant changes that impact the advertising industry in Mexico. The Law becomes effective on September 3, 2021, and is applicable to all acts, contracts, agreements, or procedures entered into between two or more of the economic agents referred to in the Law (media agencies, advertisers, and media), if an advertiser is resident in Mexico and the advertisement is disseminated in Mexico.

Pablo Jiménez Zorrilla officially joins Von Wobeser, taking the firm’s partner count to 18. He will co-head the corporate and M&A practice alongside partner Luis Burgueño. Law firm founder and member of the executive committee, Claus von Wobeser says Jiménez’s incorporation will add significant value both to the firm and its clients.

Von Wobeser y Sierra, S.C. is pleased to announce that Pablo Jiménez Zorrilla has joined the firm as a partner.

On May 26, 2021, the notice was published in the Federal Official Gazette (“DOF”) informing the public of the suspension of all effects and consequences resulting from article 57 of the Hydrocarbons Act (the “Act”), as well as transitory articles four and six of the “Decree amending various provisions of the Hydrocarbons Act”, published on May 4, 2021 in the DOF.