In recent years, we have seen a significant increase in Custom Audits by both Federal and State Tax Authorities, mainly to companies with foreign investment. In this Quick Chat video, our International Commercial partners in Mexico along with the Managing Partner for Baker McKenzie’s Mexico offices discuss what to expect from an audit, the consequences including financial liability and the preventive measures Mexican companies must take.
On 10 July 2023, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) reissued General License 40B, “Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum Gas to Venezuela.” On the same day, OFAC made public regulations to implement Executive Order 14078, “Bolstering Efforts to Bring Hostages and Wrongfully Detained United States Nationals Home.”
By means of Resolution Nos. 93 and 94, the Agency for Access to Public Information (AAIP for its acronym in Spanish) approved: (i) the Program on Transparency, Document Management and Archives; and (ii) the Strategic Plan for the period 2022-2026, respectively.
On 3 July 2023, the Brazilian president sanctioned Law n. 14,611/2023, which aims to ensure equal payment for women and men who perform the same activities. The new regulation also creates greater sanctions for employers.
The National Executive issued Decree No. 4,812 on 19 June 2023, which extends the waivers of Legal Regimes for export until 9 December 2023 (“Decree”). Said waivers were established on 9 June 2021 by Decree No. 4,5252 regarding Optimization of Export Processes, which was extended until June 2022 and June 2023.
The Decree established its validity as of 9 December 2023, having a retroactive effect.
The National Executive Branch submitted Message 87/2023 to the Honorable Chamber of Deputies of the Nation with the Personal Data Protection Bill of Law (“Bill”).
The Bill is the outcome of a participatory, open and transparent process led by the Agency for Access to Public Information, which included the publication of the Personal Data Protection Draft Bill and its subsequent opening for public consultation. After receiving a total of 173 opinions, contributions and comments, the AAIP presented the Bill to the NEB and now the latter has submitted the Bill to Congress.
Last 30 May, Supreme Decree No. 006-2023-MINAM was published, whose Fourth Final Complementary Provision establishes that the Single Procedure of the Environmental Certification Process is suspended until 1 January 2025, for all stages, requirements, deadlines and other aspects related to the environmental certification process in charge of SENACE.
On 13 May 2023, Law No. 31740, which amends Law No. 30424 regulating the administrative liability of legal entities, was published in the Official Gazette, El Peruano.
Our latest Antitrust and Competition Handbook is now available. We have developed this guidance as a practical resource for multinationals trying to harmonize their approach to antitrust compliance in different countries in Latin America, as well as for local companies that are bringing their compliance programs up to international standards.
June marks LGBTIQ+ Pride Month. This is a good opportunity for us as companies to reflect on how far we have come in creating inclusive workplaces and to take some action.