APRIL 2008 EDITION ARCHIVE
Legal Updates
Recent Court Decision
In case 13/2008, the Mexican Supreme Court (Suprema Corte de Justicia de la Nación) has ruled that the effect of an amparo lawsuit decision declaring any payment made to the government as unconstitutional carries with it the right of the taxpayer to receive the amount originally paid to the government in present value terms. The decision is important for those with amparo lawsuits filed against Mexican tax laws, which have been subject to the Financial Code of the Federal District. This opens... [Read More]New Mexican Regulation (NOM) on Maximum Weight and Measures for Trucks and Buses
On April 1, 2008 the new Official Mexican Norm (NOM) governing maximum weights and measures for vehicles operating on federal highways was published in the Official Journal of the Federation (Diario Oficial de la Federación). The purpose of the new regulation is to decrease the maximum weights and measures applicable to vehicles in transit on federal roads and bridges in order to avoid accelerated deterioration and decrease highway accidents. In addition, the regulation seeks to harmonize... [Read More]New Authority for Sub-Delegates of the Mexican Social Security Institute Regarding Labor Risk Premiums Paid by Employers
On March 28, 2008, the Mexican Social Security Institute (Instituto Mexicano del Seguro Social or IMSS) published in the Official Journal of the Federation, through its Technical Counsel, a decree establishing that in addition to IMSS delegates working throughout Mexico, sub-delegates in such offices will have the authority to ratify or amend the category, classification and labor risk premiums paid by employers for workplace risk insurance paid on behalf of employees. With this reform it is hoped... [Read More]Environmental Law Notes – New Law for the Development and Promotion of Bioenergy
The new Law for the Development and Promotion of Bioenergy entered into force on February 1, 2008. The new law seeks to encourage and provide incentives to the agricultural sector to produce “bioenergy,” understood as energy obtained from living material (biomass) for combustible purposes, such as biofuels, biogas, and biodiesel. With the passage of this new law, it is hoped that Mexico will develop an alternate and ecologically friendly plan so that it may be energy self-sufficient and... [Read More]Business & Politics Outlook
President Felipe Calderon Presents
On April 8th, Mexican President Felipe Calderon sent five initiatives to the Mexican Senate aimed at reforming, granting greater autonomy to, and ensuring increased accountability and transparency of, the Mexican parastatal oil company Petróleos Mexicanos (PEMEX). Facing accusations that it seeks to privatize PEMEX, President Calderon’s government defended its initiatives as measures which would reform, but not privatize, the company. Among the initiatives is a proposal to authorize... [Read More]Venezuela Expropriations Affect Cementos Mexicanos (CEMEX)
The Government of Venezuela, headed by President Hugo Chavez, announced plans on April 7th to nationalize the most important cement producers in Venezuela, among which is Cemex SAB, a company belonging to the Mexican cement group CEMEX. According to a news release from such Mexican company, the Venezuelan government intends to nationalize at least 60% of Cemex SAB so that it may acquire operational control of the cement company’s management. CEMEX will seek out the Mexican Government’s... [Read More]Economic Indicators
Pesos/Dollar Exchange Rate
The quoted exchange rate as of April 10, 2008 was $10.55 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on April 10, 2008 at 31,649.05 points.Interest Rates
On April 10, 2008, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 7.93%.Mexico IP Info
Trademark Cancellations
In addition to inventions (patents, utility models and industrial designs), distinct symbols (trademarks, commercial brands and commercial names) that have been registered in Mexico may lose their registration and, thus, be subject to use by third parties, if such symbolic marks are declared null by trademark authorities, or if such expire in conformity with the terms of the Mexican Industrial Property Law (Ley de la Propiedad Industrial). In addition, registered marks may lose their registration... [Read More]Feature Website
www.economia-snci.gob.mx
This month we recommend our readers visit the webpage of the Tariff Information System via internet, www.economia-snci.gob.mx, to find information related to various transmittals, services, statistics and legislation as well as links to web pages of Mexican federal agencies and information of interests on various federal agencies.