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In order to mitigate and contain the spread and transmission of the SARS-CoV2 virus, on May 29th, an Agreement was published in the Federal Official Gazette (“DOF”, by its acronym in Spanish), establishing an extension to the suspension period, terms and activities of the Ministry of Economics until June 15th, 2020. The activities will be able to be resumed in advance if case that the healthcare authority so determines it.

Given the global pandemic caused by SARS-CoV2 virus (COVID-19), on March 30th, 2020, an executive order was published in the Federal Official Gazette (DOF, by its acronym in Spanish) declaring a health emergency due to force majeure. As a consequence, many establishments, factories and businesses considered as “non-essential activities” have been forced to suspend operations, which has placed landlords and tenants in the need to renegotiate the terms of their contractual relationships.

Attending to the Regulation of the Foreign Investment Law and the National Registry of Foreign Investment, these are the costs of obligations and registrations before the National Registry of Foreign Investments.

On March 26th, a Decree was published in the Federal Official Gazette indicating that, due to the fact that on March 23rd of this year, the General Health Council recognized the outbreak of the COVID-19 virus as an epidemic in Mexico, the Ministry of Economics will suspend, due to force majeure, all the procedures, resources and terms followed before the Ministry of Economics, from March 26th to April 19th, 2020.

Procedures before the National Registry of Foreign Investment (“RNIE” for its acronym in Spanish), the statutory limits and timeframes will be borne normally.

On December 9th, 2019, it was published in the Official Gazette a Decree whereby: (i) the Income Tax Law (ITL), (ii) the Value Added Tax Law (VATL), and the (iii) Federal Tax Code (FTC) were modified. These amendments came into effect on January 1st, 2020.

Attending to the Regulation of the Foreign Investment Law and the National Registry of Foreign Investment, these are the costs of obligations and registrations before the National Registry of Foreign Investments.

The “Industrial Productivity and Competition Program” is an economic support program from the Secretary of Economics, with national reach, which targets entrepreneurial organisms, legal entities, as well as civil associations that belong to the manufacture industry and have at least 51 workers registered in the Mexican Institute for Social Security.

The innovative aspects and the evolution of financial technologies have allowed for a strong positioning in the market, transforming the world and marking the beginning of a new era.