McDermott Will & Emery (JD Supra Mexico)
6 results for McDermott Will & Emery (JD Supra Mexico)
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Mexico's Congress Approves Proposed Outsourcing & Insourcing Amendments
Earlier this week, the Mexican Congress approved the proposed amendments on outsourcing and insourcing activities. A brief summary of the relevant provisions of these new laws can be found below: 1. As expected, the general outsourcing or insourcing of personnel is now prohibited, however, such activities are still permitted as long as the services provided by the third party are of a...
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Mexico's Reportable Transactions Rules in Effect January 1
Beginning January 1, 2021, Mexico’s reportable transaction rules require either a taxpayer or a tax advisor to report to the Mexican tax authorities any transactions that are designed, marketed, organized, implemented or administered to provide a tax benefit to the taxpayer...
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Mexican Government Challenges Employee Insourcing and Outsourcing Structures
On November 12, 2020, the president of Mexico sent a bill to the Congress of the Union proposing amendments to several provisions of the: (i) Federal Labor Law (“Ley Federal del Trabajo“); (ii) Social Security Law (“Ley del Seguro Social“); (iii) Federal Housing Fund Law (“Ley del Infonavit“); (iv) Federal Fiscal Code (“Codigo Fiscal de la Federacion“); (v) Income Tax Law (“Ley del Impuesto Sobre
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Mexican Competition Authority Sanctions BorgWarner and REMY Holdings for Gun Jumping
On January 31, the Board of the Mexican Competition Authority—the Federal Economic Competition Commission (COFECE)—approved REMY Holdings International’s acquisition of BorgWarner’s vehicle aftermarket business. However, the companies failed to file and were fined for their misconduct (~$153,134). The fine was less severe because the parties voluntarily acknowledged their failure to notify COFECE.
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New Energy Opportunities in Mexico Raise FCPA, Anti-Bribery Risks
Sweeping reforms across Mexico’s oil, gas and electric markets promise more opportunities for the private sector and increased investment from international firms. However, U.S. companies looking to enter this market will need to stay vigilant to anti-corruption risks and plan ahead to ensure they have adequate anti-corruption compliance structures in place to address these risks. Given...
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Mexican Energy Reforms Bring E&P Opportunities and Much More
Last week the Mexican Congress approved legislation including Constitutional amendments that were approved by the required number of Mexican states on December 16 that will bring changes to the nation’s energy laws that exploration and production companies have hoped for ever since Mexico nationalized the oil and natural gas industry in 1938. But the legislature did not just stop there – the...