Mexico Weekly - Mexican MLPs or Fibra E - Update
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Michell Nader S. and Adalberto Valadez
Partners, Nader Hayaux & Goebel (Mexico City)
September 30th, 2015
Yesterday, the Fourth Resolution of Amendments to the Miscellaneous Tax Resolution for 2015 (Cuarta Resolución de Modificaciones a la Resolución Miscelánea Fiscal para 2015), which includes the tax rules (“Tax Rulesâ€) applicable to Mexican MLPs or Fibra E, was published in the Federal Official Gazette. The Tax Rules will enter into force as of October 1st, 2015.
The final version of the Tax Rules that was published yesterday did not suffer any changes vis-à -vis the draft version that had been published in the website of the Internal Revenue Service (Servicio de Administración Tributaria), and which was commented in our previous article dated September 18, 2015 (available on our website www.nhg.com.mx).
As described in our aforementioned article, the Tax Rules are aimed at promoting long-term investment in vehicles that will invest in Mexican qualified energy, electricity and infrastructure assets and the management thereof, via trusts that will issue certificates to be traded in the Mexican Stock Exchange (and which may also be offered abroad)
MexCC's Mexico Business Outlook: Energy Focus 8th of October from 8.30-19:00 hours at Bain & Company, 40 Strand, London WC2N 5RW
The MexCC will be hosting its fourth edition of the Mexico Business Outlook, keeping its members and Anglo -Mexican business community and entrepreneurs informed on the developments in Mexico and the economic outlook as as well as new business opportunities in Mexico.
In this occasion, five panels of experts will discuss the status of the energy reform and bilateral opportunities for Mexican and British companies, covering the oil and gas reform and Round One of oil and gas tenders, the implementation of the electricity reform and what to expect in the renewables sector.
Remittances to Mexico, the largest provider of foreign workers to the US, have this year risen above the $2bn-a-month mark they last breached on a consistent basis in 2008, according to data from Banxico, the central bank.
F1: Mexico City promises world's second fastest track
October 4, 2015
According to the official Formula One website, Mexico's Grand Prix race course will be comprised of 71 laps. Taking into account an average of 75 seconds per lap, the Mexican race track should be the second fastest in the world – second only to Italy's Monza.
Despite the plunge in oil prices, Mexico banished the bitter memory of its oil tender flop by awarding more blocks than the government expected, to a range of companies on lucrative terms.
Aeromexico signs agreement with Mexico Carbon Platform
October 2nd, 2015
Aeromexico signed an agreement with the independent platform for trading carbon credits called MEXICO2, to purchase Certified Emission Reductions (CERs), also known as carbon credits, for national projects certified under international standards.
The United States and 11 other Pacific Rim nations on Monday agreed to the largest regional trade accord in history, a potentially precedent-setting model for global commerce and worker standards that would tie together 40 percent of the world’s economy, from Canada and Chile to Japan and Australia.
Mexico extradites to US two drug lords from El Chapo Prison
October 1st, 2015
One of Mexico's most notorious drug lords has been extradited to the United States, as the country’s embattled president continues the hunt for escaped Chapo Guzman - the most wanted cartel leader in the world.
The auctioning of blocks of oil and gas fields, both onshore and in the Gulf of Mexico, is designed to bring foreign investment into Mexico’s decrepit energy industry as part of President Enrique Peña Nieto’s flagship reforms.
An indigenous Zapotec, Lirika's hip-hop songs speak to many women as they continue to endure rampant violence in Mexico. Lirika, 28, an indigenous Zapotec, has made a name for herself on the Latin American hip-hop scene. Her rap stands out in part because of her indigenous roots, the poverty she's endured, as well as her politicised upbringing.