JULY 2007 EDITION ARCHIVE

• • Legal Updates

    Jurisprudence Relating to Administrative Litigation

    The Second Chamber of the Supreme Court of Justice recently issued jurisprudence resolving the contradiction of rulings that existed with respect to the principle of finality and the need to exhaust the administrative lawsuit before going to a federal appeal (amparo).  The contradiction was finally resolved by ruling that since article 28 of the Federal Law of Contentious Administrative Procedure contains greater requirements to grant a suspension than those foreseen in the amparo law, it is... [Read More]

  • Amendment to Various Environmental Laws

    Amendments to various environmental laws were recently published in the Official Journal of the Federation.  Among them were amendments to the General Law of Ecological Equilibrium and Environmental Protection (LGEEPA) and the General Law for the Prevention and Integral Management of Wastes (LGPGIR).  Below are details of some of the amendments: Amendments relating to biodegradable detergents and waste from the mining-metallurgical industry:  On May 19, amendments to the LGEEPA and... [Read More]

  • Business & Politics Outlook

    President Calderón Presents the Initiative for the Integral Public Finance Reform

    On June 20, President Felipe Calderón presented a package of initiatives that constitutes a proposal for the integral public finance reform, commonly referred to as the fiscal reform.  The fiscal reform initiative includes modifications to the Political Constitution of the United Mexican States, the Income Tax Law, the Tax Code of the Federation and the Law concerning the Special Tax on Production and Services.  In accordance with the purpose section, the reform package seeks the... [Read More]

  • Corporate Tax at a Single Rate

    Within the initiative for the Integral Public Finance Reform stands out the proposal for a new Corporate Tax at a Single Rate or CETU.   The CETU has been proposed considering the need to increase tax collections, as well as to attack evasion and avoidance by the taxpayers.  It is proposed as a direct tax applying a uniform rate to income.  It allows deductions for investments and expenses, which include machinery, equipment, land and improvements, as well as inventory. ... [Read More]

  • Upcoming Summit of the Heads of State of the United States, Mexico and Canada

    On July 6, the foreign affairs secretaries of the United States of America, Mexico and Canada met in Washington, D.C. to discuss themes, including the environment, border security and corruption, in anticipation of the third meeting of the Alliance for the Prosperity and Security of North America, which will be held in August in Quebec, Canada by the heads of state of the three countries.  The tripartite alliance was initiated in response to the evident need of North America to take new measures... [Read More]

  • Historic Increase in Commerce between Mexico and the European Union

    The Department of Economy (SECON) announced that after seven years since the entry into effect of the Mexico-European Union Free Trade Agreement (TLCUEM), the European Union (EU) has become Mexico's second largest commercial partner, as well as being the second largest source of direct foreign investment in Mexico.  In 2006, bilateral commerce between the entities reached 42 billion dollars, and Mexican exports to the EU increased by 166%, which represents more than 13 billion dollars. ... [Read More]

  • Economic Indicators

    Pesos/Dollar Exchange Rate

    The quoted exchange rate as of July 12, 2007 was $10.82 pesos per dollar.

  • Mexican Stock Exchange

    The Mexican Stock Exchange (BMV) closed on July 12, 2007 at 32,261.10 points.

  • Interest Rates

    On July 12, 2007, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 7.70%.

  • Mexico IP Info

    Exclusivity Of The Use Of Marks And Parallel Importations

    While the purpose of registering a mark is to make effective the exclusive right to use such, in accordance with the Industrial Property Law, there exist exceptions that allow for the use of registered marks by third parties.  One of these exceptions is known as parallel importations, which consists of allowing the use of a registered mark by a third party that uses, sells, distributes, etc., as long as the introduction of the mark into commerce has been done legally by the owner of the registration... [Read More]

  • Feature Website

    www.economia.gob.mx/pics/p/p2827/MexicoEconomicOutlook.pdf

    This month, we recommend that our readers download from the SECON website a document prepared by the Section for the Promotion of Investment, which has information concerning Mexico's economic situation and a sectorial profile of investment opportunities. The file may be downloaded at: http://www.economia.gob.mx/pics/p/p2827/MexicoEconomicOutlook.pdf