Entities in start-up stage


Publicado en Jueves, 26 Abril 2018

Entities in start-up stage

As an analogy with human life, the start-up stage in companies could be defined as the phase since its birth up to the moment when an individual is able to walk by himself. In companies, the start-up stage ends when the company begins to have recurrently income, meaning that it starts to operate and obtain resources in conformity with the principal activity; therefore according on the type of industry or activity, the start-up stage could terminate immediately after the constitution date or could take several years for its completion.

 

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Vulnerable Activities – How to know if you are subject to the Anti-Money Laundering Law?


Publicado en Jueves, 18 Enero 2018

Vulnerable Activities – How to know if you are subject to the Anti-Money Laundering Law?

 

On the last article we talked about the creation and implementation of the Anti-Money Laundering Law in Mexico. Now we will focus in understanding how to know if we are subjects to the Anti-Money Laundering Law in Mexico or not.

 

In order to determine who subjects to this law are, the law itself includes a list of what it refers to as “Vulnerable Activities”. There are 15 vulnerable activities, and even if the simple fact of doing any of them does not mean that one has to comply, it is important to know what those activities are.

 

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Anti-Money Laundering Law – Precedents, creation and immediate effect


Publicado en Lunes, 15 Enero 2018

Anti-Money Laundering Law - Precedents, creation and immediate effect

 

The anti-money laundering topic is one that is very important on an international level. The governments of the world consider that the actions against this problem should be a top priority. Because of this, in the last years, they have been looking for the standardization of procedures to face it.

 

On an international level, the Financial Action Task Force (FATF), also known in Spanish as the Grupo de Acción Financiera Internacional (GAFI), is the institution responsible for establishing the standards and promoting an effective implementation of measures for the combat against money laundering, counter-terrorist financing and other threats to the international financial system.

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Digital platforms (Airbnb, etc.) - Collection of the Lodging Tax in the State of Jalisco


Publicado en Jueves, 02 Noviembre 2017

Digital plataforms (Airbnb, etc.) - Collection of the Lodging Tax in the State of Jalisco

A law reform was presented since September 26th that stated that these platforms should be obligated to pay the lodging tax. It was until last October 24th of 2017 that the legislative chamber of the State of Jalisco approved the initiative and launched a decree project, therefore, it is official: The platform will be obligated to collect, withhold and pay the Lodging Tax in the State of Jalisco.

 

The starting date of this obligation is still pending, but we are expecting new information about it on the following days, since it is now the Executive power the one that has to make that decision.

 

These types of digital platforms are part of a new model called “collaborative economy”, in which the platforms are only the intermediaries that put together someone who is “looking” for something with somebody else who is offering the same thing.

 

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SPID – The tool to make and receive USD wire transfers


Publicado en Lunes, 21 Agosto 2017

SPID – The tool to make and receive USD wire transfers

After a long wait, the Bank of Mexico has decided to allow wire transfers between USD dollars accounts. This is made through the System of Interbank Payments in Dollars, abbreviated SPID for its initials in Spanish.

 

According to the information that Banxico itself gives to the general public, the SPID is born because of an increase in the demand for wire transfers in dollars. This is of great importance within a globalized world, where the companies are always looking to make their processes more time and cost efficient.

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