New Industrial Property Act

The new Federal Law on the Protection of Industrial Property (LFPPI) was published on July 1st, 2020, with the aim of harmonizing and adapting Mexican legislation on matters of intellectual property to the obligations assumed by our country according to the United States, Mexico, Canada Agreement (USMCA).

December, 2020

The new law includes significant amendments, the most important of which are:

The time of protection for utility models is increased from 10 to 15 years.
The double patenting of the same invention is prohibited.
The concept of trade secret is defined and the appropriation, acquisition, use or disclosure of a trade secret by any means, with the aim of causing harm or obtaining a financial benefit for oneself or others, is considered as an offense.
Handicrafts are included in industrial designs.
The term of validity of trademark registrations changes: henceforth, it will be counted as of the date of issue, unlike before, when it started to be counted from the moment at which the application was filed.
Fines are increased up to 250 thousand times the daily value of the Unit of Measurement and Update.

The new law also includes the addition of a chapter dedicated to technological protection measures, as well as information about the management of rights and internet service providers; similarly, the obligations of internet services providers are extended so as to harmonize them with the US Digital Millennium Copyright Act (DMCA).

Contact our team should you require further assistance.

The close of the 2020 year

The close of the calendar year also means the close of the tax and financial year for most companies in Mexico. For this reason, the last few months are the most suitable for taking a pause and evaluating company position; above all, now that the year’s health crisis has to be taken into account, which may have a critical impact on results.

Renewal: Qualified Maquiladora Approach Agreement

On November 16th, 2020, the US Internal Revenue Service (IRS) published a release stating that, together with the Mexican Tax Administration Service (SAT), it had agreed to renew the Fast Track methodology (Qualified Maquiladora Approach Agreement) for 2019. The agreement provides greater certainty to Mexican maquiladora companies that applied for a APA (Advance Price Agreement), so as to known when...

Mexican Tax Reform 2021

Last December 8th, 2020, a decree was published in the Federal Official Gazette (DOF), by means of which the provisions of the Income Tax Law(LISR), the Value Added Tax Law(LIVA) and the Federal Tax Code (CFF) were reformed, extended and repealed. Here are the most important amendments.