NOVEMBER 2009 EDITION ARCHIVE
Legal Updates
PRACTIQUE LEGAL - Obtaining Immigration Permits for Business Visitors in Mexico
By Rene Cacheaux Almost every business person who has visited Mexico has encountered a somewhat complicated and confusing system in relation to the issuance of immigration visas or permits to enter the country. The various laws and international treatise addressing this topic have made the system too complex. In addition, various governmental authorities exist, whether in Mexico or abroad, with the power to issue work visas or business visitor visas. In general terms, work or business visas may... [Read More]300 PALABRAS - A Turbulent Tax Reform
Opinion by Dr. Mario Melgar-Adalid The passing of the 2010 Revenue Law (Ley de Ingresos) by Mexico's Congress shows the political intensity and complicated financial situation that Mexico currently faces. The Revenue Law sets forth all the federal taxes for the upcoming year. Beyond the political controversy stirred by the strategy to increase taxes in the middle of an economic crisis, the Mexican government's need to tap additional sources of revenue became apparent. Mexico's tax revenues... [Read More]Recent Case Decision - Calculating Overtime
The first Chamber of Mexico's Supreme Court recently published in the Judicial Weekly of the Federation (Semanario Judicial de la Federación) a binding holding in regard to labor matters number 2a./J.137/2009 under the heading Overtime. Use of full regular daily salary as a required basis for calculation. In this regard, Mexico's highest court held that a literal, historical and systematic interpretation of various articles of the Federal Labor Law, providing that full salary as set... [Read More]2010 Tax Reform
On October 31, 2009 Mexico's Federal Congress approved the Revenue (Ley de Ingresos) for 2010 with a clear purpose of increasing government revenue. The so called "Fiscal Package" amends the Single Rate Business Tax (IETU) Law, the Fiscal Code of the Federation, the Income Tax Law, the Value Added Tax Law, the Cash Deposits Tax Law, the Federal Law of Fees and the Special Production and Services Tax (IEPS) Law. Important points to keep in mind are as follows: I. Single Rate... [Read More]Business & Politics Outlook
Political Thermometer
The recent reform to Mexico's Federal Constitution will make the election of governors, city counsels and state legislatures to be held on the first Sunday in July of the corresponding election year. The change is designed to synchronize elections for these offices with the dates of elections taking place all over Mexico and avoiding unnecessary election expenses, complications derived from scheduling political campaigns and elections taking place throughout the year. Some changes that have been... [Read More]Economic Indicators
Peso/Dollar Exchange Rate
The quoted exchange rate as of November 12, 2009 was $13.2061 pesos per dollar.Mexican Stock Exchange
The Mexican Stock Exchange (BMV) closed on November 12, 2009 at 30,759.85 points.Interest Rates
On November 12, 2009, the Average Interbank Interest Rate (TIEE) for a 28-day period was at 4.9200%.Mexico IP Info
Terms that May Not be Registered as Trademarks
The Mexican Industrial Property Law establishes that technical names or commonly used names of products or services such as words that in current language or commercial practices have been converted into the usual or generic designation of such item, may not be registered as trademarks. This legal prohibition is completely understandable given that if a technical name or commonly used word were permitted to be registered to designate a product or service, this would grant the acquirer of the mark... [Read More]