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Issuance of recommendations by the COFECE in energy matters
October, 2020

On October 7, 2020, the Federal Economic Competition Commission (“COFECE” or “Commission”) issued comments and recommendations to the National Regulatory Improvement Commission (“CONAMER”) regarding the regulation issued by the Energy Regulatory Commission (“CRE”), which modifies the electric power self-supply and cogeneration permit system.

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Elimination of No commercialization letters and other changes to the NOMs Annex
October, 2020

Today the modification to Annex 2.4.1. “Tariff classifications of the tariff of the general import and export taxes law in which the merchandise subject to compliance with the Mexican official standards in the point of its entry into the country and in the point of its exit is classified” (better known as the NOMs Annex) of the Ruling amending the other ruling by which the Ministry of Economy issues general rules and criteria in Foreign Trade matters was published in the Official Federal Gazette (DOF).

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América Móvil sells subsidiary in United States to Verizon
September, 2020

The U.S. company Verizon Communications acquired Tracfone Wireless, subsidiary of América Móvil in the United States for 6.250 million dollars in cash plus common shares of Verizon. The amount is subject to adjustments in function of certain performance goals during 24 months and a commercial agreement, which would be a return for the seller of up to 650 million additional dollars.

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Modification of the Guidelines for the Execution of the Gradual Plan toward the New Normality in Mexico City
September, 2020

On September 25, 2020, the Head of Government of Mexico City published in the Official Gazette the Twenty-Second Notice announcing the color of the Epidemiological Traffic Light for Mexico City, and the modification of the Guidelines for the Execution of the Gradual Plan toward the New Normality in Mexico City (hereinafter, the Notice).

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Labor Compliance under the USMCA. The breach of labor obligations in Mexico can result in sanctions
September, 2020

Under the United States-Mexico-Canada Agreement (hereinafter the USMCA), it is possible for Mexican manufacturing or services companies that deny their workers certain collective rights to be sanctioned. The sanctions may include the elimination of the preferential tariff treatment on the merchandise they export, fines and even the denial of access of the merchandise to such market in the case of recurrence.

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Von Wobeser seals Merck-Iberdrola renewables PPA in Mexico
September, 2020

Von Wobeser y Sierra S.C. has helped global pharmaceutical company Merck sign a power-purchase agreement (PPA) in Mexico with Spanish power generation company Iberdrola.

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América Móvil divests US prepaid wireless business for US$6.9 billion
September, 2020

Mexico’s América Móvil has hired Cleary Gottlieb Steen & Hamilton LLP in New York to sell its prepaid mobile services provider, TracFone, to US counterpart Verizon in a deal totalling US$6.9 billion. Debevoise & Plimpton LLP’s offices in New York and Washington, D.C. and Von Wobeser y Sierra S.C. in Mexico City helped Verizon in the deal, which was announced on 14 September.

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Modifications to the tax provisions for 2021
September, 2020

This past September 8, the Federal Executive presented the economic package for the fiscal year 2021 (“FEP 2021”) to the Congress of the Union. It contemplates, among other things, the proposal of the Federal Revenue Law for Fiscal Year 2021, and the proposal of Decree (“Decree”) amending provisions of the Income Tax Law (“IT”), Value Added Tax Law (“VAT”), Special Tax on Production and Services Law (“STPS”), and the Federal Tax Code (“FTC”).

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Mexico Probes Digital Ad Market
September, 2020

Mexico’s competition watchdog has launched an abuse of dominance investigation into the digital advertising services market to determine whether market participants are complying with competition rules.

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12 Years of Struggle and Latin America Maintains the Same Level of Corruption
August, 2020

Since the previous decade, Latin America promised to confront corruption, and it seemed that Brazil would lead the cause. The first results of the emblematic Lava Jato operation came to light in 2014 and to this day it is generating consequences, not only for Brazil, but for a dozen other countries, including the United States.

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