The Court has confirmed the constitutionality of the Controlling Beneficiary. [Update]
In Mexico, all entities, whether individuals, corporations, trusts, foundations, or other similar structures, are required to identify their Controlling Beneficiaries. These individuals are those who receive benefits from the entity or exert influence over it, as detailed in the previously published article by Aliza Palatchi. Failure to comply with this obligation may result in fines […]
Approval of electronic, optical or any other technological means in the meetings of commercial companies.
SEPTEMBER 19, 2023. On September 12, 2023, the United Commissions of Economy and Legislative Studies of the Senate approved, through roll-call vote, the draft for the decree by which several provisions of the General Law of Commercial Companies (“GLCC”) are amended regarding the rules for the celebration of partners meeting, forwarding it to […]
NEW GENERAL LAW ON ALTERNATIVE DISPUTE RESOLUTION (ADR)
A controversy before the Courts of the country is always complicated because it involves factors such as lawyers’ fees, personal resources, bureaucracy, long times to obtain a judgment and factors such as the excessive workload that the Authority has at the local or federal level, which makes access to the administration of justice difficult. […]
Entry into force of the decree prohibiting added trans fats in the industrial manufacturing process of edible oils and fats, food and non-alcoholic beverages.
Mexico City, September 5, 2023. Trans fats are produced through a process of partial hydrogenation of vegetable oils and have been linked to an increased risk of cardiovascular disease and other health problems when consumed in excess, according to the World Health Organization. In response to this situation, in Mexico, as of the second […]
The Civil Code of Mexico City, moves towards inclusion.
On August 8, 2023, the plenary session of the Supreme Court of Justice of the Nation (the “Court“), invalidated provisions of the Civil Code in force of Mexico City (the “Code“), in testamentary matters that allow people with disabilities to testament by electronic means. In the world, according with the World Health Organization, approximately 15% […]
THE TAX ADMINISTRATION SERVICE POSTPONED THE APPLICATION OF PENALTIES RELATED TO THE CARTA PORTE COMPLEMENT OBLIGATIONS
Last July 16, 2023, the Mexican Tax Administration Service (“SAT” per its acronym in Spanish) published on its website the First Anticipated Version of the Sixth Resolution of Modifications to the Miscellaneous Tax Resolution for 2023, which in its Tenth transitory article, informed that it will no longer be as of August 1st, 2023, that […]
Evidentiary value of electronic invoices
In 2011, in resolving the contradiction of decisions between different collegiate circuit courts, the First Chamber of the Supreme Court of Justice of the Nation issued the jurisprudence entitled: “INVOICES. PROBATORY VALUE BETWEEN WHO ISSUED THEM AND WHO ACQUIRED THE GOODS AND SERVICES”, in which it is argued that the invoice is a private document […]
Mergers, Acquisitions, and Nearshoring – challenges and Opportunities for 2023
During 2021 and 2022, the M&A market in Mexico will grow 44% compared to 2019 and 2020, having the effect of mobilizing approximately USD$16,000’000,000.00, according to Transactional Track Record Data’s (TTR Data) 2022 annual report. This growth is due to several factors, highlighting the following (I) market recovery to pre-pandemic levels, (ii) increased need for […]
Obligations of the Carta Porte Complement and its validation by the Mexican Supreme Justice Court
Last June 7, 2023, the Second Chamber of the Supreme Justice Court (“SCJN” per its acronym in Spanish) validated the modifications made to the Federal Fiscal Code that entitles the Tax Administration Service (“SAT” per its acronym in Spanish) to establish the rules for issuing Digital invoices (“CFDI” per its acronym in Spanish) with the […]
Federal Cybersecurity Law initiative
The use of information and telecommunication technologies has become a fundamental part of people’s lives, as they function as important tools for the proper development of the public and private sectors. It should be remembered that in this digital era, the use of technologies implies an exchange of information through a cyberspace made up of […]