SECTIONS
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NEWS
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 GDP up 3.0% in 2005
Mexico City - Mexican economy achieved a 3% increase in 2005, the Ministry of the Treasury informed. These results agree with the most recent forecasts, both official and from analysts. The Government was expecting a 3% increase for 2005, after cutting it twice from an original forecast of 3.8%.
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Metalsa will open a plant in Saltillo
Monterrey, Mexico - Metalsa, a company member of Proeza Group, will open a chassis manufacturing plant in Saltillo next June, transferring part of the production being made at Apodaca. Jesus Theurel, General Director of this Monterrey Company, said that the purpose is to be closer to Daimler Chrysler, one of the Company's main customers, which is located in Coahuila.
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Electrolux adding laundry products factory in Ciudad Juarez
Ciudad Juarez, Mexico - Electrolux Major Appliances - North America today announced plans to invest approximately USD 139 million in its North American laundry business including a new factory in Ciudad Juarez to produce front- load washers and companion dryers. The new factory will be located at the company's manufacturing site in Ciudad Juarez and is expected to employ about 800. Production is expected to begin in late 2007.
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Omnilife's plant to start operating next July
Guadalajara, Mexico - Omnilife announced the start next July of its operations in the manufacturing plant to be located in Parque Industrial Los Cedros de Tlaquepaque, where all of the Group's maquiladoras will concentrate. Roberto Santa Cruz Cabrera, the Group's General Director, explain that this project required an investment over US$60 million.
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Mexico exported US$214 billion in 2005
Mexican exports amounted to US$214 billion in 2005, 13,7% up from 2004, the Minister of the Economy, Sergio de Alba, declared yesterday. "We closed 2005 with exports amounting to US$214 billion", Minister de Alba said in a press conference, where he stressed the growth in non-petroleum exports.
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Mexico loses ground in US auto-parts sector
Mexico City - Mexico is the main auto-parts supplier to the USA. However, in the last five years it has lost ground to Germany, Japan, Korea and in some cases to China, according to figures issued by the US Department of Commerce. Mexico's share of the market in electric and electronic equipment for automobiles went from 65.5% in 2000 to 58% last year, while Japan gained ground by going from 11.4% in 2000 to 13.8% in 2005.
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Juarez produces one fifth of maquila exports
In the first eleven months of 2005, Juarez maquiladora industry exported goods in the amount of US$16 billion, representing almost one fifth of total Mexican exports made by this sector, said Tomas Mena Sanchez, President of Asociación de Maquiladoras Asociación Civil (AMAC). Tomas Mena Sanchez said that due to the recovery of maquilador sector in 2005, value of exports registered between January and November far exceeded those in 2004...
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ARTICLE OF THE WEEK
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 By Baker & McKenzie
Labor |
 Pursuant to Transitory Article Third of the Income Tax Law in effect as of January 1, 2006, shelter benefits to companies are extended until 2011 with respect to not being considered permanent establishments. Now shelters that have their related party residing abroad are also included.
The reform maintains the same flaw that in the past years, by not making it clear that the shelters’ customers residing abroad are the ones who are not permanent establishments in Mexico, and not a maquiladora having a shelter plan. Nevertheless, in a harmonious interpretation of the provisions, we consider that such exclusion is applicable to customers.
It is worth pointing out that these benefits require that a maquiladora company under the shelter plan, determine the amounts of tax paid by its related party and taxable income corresponding to the immediately preceding fiscal year by February of each year.
In our opinion, the main purpose of this reform is to broaden the scope of the non-permanent establishment assumption to include those shelters with a related party abroad. In addition, these provisions allow tax authorities to gather information to be able to analyze whether border transactions between maquiladoras with shelter plan and their related parties residing abroad are at market values, thereby avoiding having to request such information to every maquiladora with this plan, or with an exchange information agreement with their tax partners.
Should you require additional information in this regard, please feel free to contact any member of Baker & McKenzie´s Foreign Trade Practice Group.
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| All Rights Reserved © Baker & McKenzie Abogados, S.C. Mexico 2005 |
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MEXICO'S WEEKLY HEADLINES
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| » Nissan Mexico anticipates more exports
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| » Mexico promotes food in Europe
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| » Mall invests US$ 450 million in Campeche
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| » Germany offers to promote to San Luis Potosi in European market
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| » It is expected to open a direct flight Mexico-China |
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EVENTS
2006
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February
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EXPOCOMM MEXICO
Mexico, D.F., Mexico
14 - 17 Feb.
EXINTEX 2006
TECHNOLOGY EXPO
Puebla, Pue., Mexico
28 Feb. - 3 Mar.
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