Employer’s obligations on election days
What will happen in Mexico next Sunday, July 2? Mexico will hold an historic vote to elect the President of the Republic, in addition to renewing the Congress of the Union, governors, senators, local congresses, local deputies and mayors in different states of the Republic.
New resolution on the legends andimages to be displayed on tobacco product packages
On May 17, 2024, the “Decree by which the series of legends, images, pictograms, health messages, and information that must appear on all tobacco product packages and all external packaging and labeling thereof, to be applied as of September 1, 2024 and until June 30, 2026” (the “Decree”) was published in the Federal Official Gazette.
Mexican supreme court rules on the limit to profit sharing for employees
The Second Chamber of the Supreme Court of Justice of Mexico resolved, under the constitutional shelter appeal 633/2023 (“Amparo Trial” in Spanish), the constitutionality of section VIII of article 127 of the Federal Labor Law and the Guide for complying with profit sharing obligations (the “Guide”), issued by the Ministry of Labor and Social Welfare.
Banxico reduces the interest rate by 25 points
On March 21, 2024, the Governing Board of the Bank of Mexico decided to lower the target for the daily Interbank Interest Rate (the “Interest Rate”) by 25 points to a level of 11.00%.
Paternity leave draft reform
On December 12, 2023, the House of Representatives of the Mexican Congress approved the Draft Decree amending and adding various provisions of the Federal Labor Law (“LFT” for its acronym in Spanish) and the Federal Law of Workers in the Service of the State, Regulatory of Section B) of Article 123 of the Mexican Constitution (the “Draft”), through which it is intended to increase paternity leave in the event of birth and/or adoption of an infant.
REPSE Renewal
On February 21, 2024, the Ministry of Labor and Social Welfare (“STPS” for its acronym in Spanish) issued an agreement amending the Ministerial Order that sets forth the general provisions for the registration of individuals or legal entities that provide specialized services or execute specialized works referred to in Article 15 of the Federal Labor Law (the “REPSE Order”).
Joint and several liability for members and shareholders in tax matters
In the tax field, it is crucial to understand the extent of the liability of the members and shareholders of a company.
Improvements to the 2023 annual statement for legal entities
On January 4th, 2024, the new application for the Annual Income Tax Statement for Legal Entities (“Annual Statement”) was published on the Tax Administration Service (“SAT” for its acronym in Spanish) portal, with significant improvements to facilitate compliance with this obligation, among which the following points stand out:
New nom issued to regulate co2 emissions in motor vehicles
On January 3rd, 2024, Mexican Official Standard NOM-163-SEMARNAT-SCFI-2023 (“NOM- 163”) related to carbon dioxide (CO2) from motor vehicles exhausts emissions was published in the Federal Official Gazette (“DOF” for its acronym in Spanish).
Increase in the value of the UMA for the year 2024
On January 10, 2024, the National Institute of Geography and Statistics published in the Federal Official Gazette the increase of the Measurement and Updating Unit (hereinafter “UMA” for its acronym in Spanish) for the year 2024.
