Dear Clients and Friends: 25 years ago, a provision was included in the Income Tax Law (“IT Law”) which permits tax authorities to recharacterize as dividends the interest paid by a taxpayer, when it is derived from “back-to-back credits”. One of the effects of this recharacterization is the rejection of the deduction taken for the…
In terms of the labor reform, published in the Federal Official Gazette on May 1, 2019 (“Labor Reform”), the local conciliation centers were to begin operating in three stages, two of which are already completed. As for the third, scheduled for May 1, it comprises the following states: Ciudad de México Coahuila Chihuahua Jalisco Michoacán…
Last January 10, the Official Gazette of the Federation published an update of the Mexican Measurement and Updating Unit (UMA), which is used to determine the amount of fines, penalties, contributions and obligations established in federal and local laws. These amounts, effective as of February 1, 2022, are as follows: Daily value: $96.22 pesos Monthly…
In response to the increase in COVID-19 virus infections and the high transmissibility of its Omicron variant, IMSS reactivated the COVID-19 Permit so that workers can process their temporary disability online. In case of presenting symptoms, the worker must answer a questionnaire, available in the IMSS portal, and attach an official ID and a photograph,…