On January 11, Alejandro Armenta Mier (Morena – ruling party) announced his party’s legislative priorities for the new ordinary period of sessions. Among the topics to be debated is the reform of the Bank of Mexico (Banxico) Law on foreign currency uptake, and the lawmaker confirmed a meeting of the technical committee debating the text in the next few days. The new ordinary session will begin on February 1. In addition, the Executive branch published a series of technical documents as annexes to the Miscellaneous Tax Resolution 2021 in the Official Gazette of the Federation (DOF), including provisions regarding stock markets which will be applied throughout 2021.
The Senate Finance Committee chair said that many of the issues coming up in Congress are “in line with those being driven by the Executive branch”. As for the Banxico reform bill, the senator explained that at the end of this week, a technical board will be set up jointly with the Chamber of Deputies to receive comments from migrant groups and the tourism sector on this bill. He made it clear that “all voices will be heard” before moving forward with approval procedures.
In other news, the technical documents annexed to the Miscellaneous Tax Resolution of 2021 present the legal information supporting the measures given in the resolution, including the bases for paying taxes using credit cards, as well as several other financial provisions. The annexes clarify that the sale of shares issued by foreign companies listed on stock exchanges will be subject to 10% in income tax.