Gasolinazo! Gasoline price to go up August 1 in all of Mexico

Gasolinazo! Gasoline price to go up August 1 in all of Mexico

Jul 31, 2016

The Mexican Secretariat of Finance and Public Credit (SHCP) announced that starting August 1, the price of Magna gasoline will go up to $ 13.96 pesos per liter, Premium $ 14.81 pesos per liter and diesel $ 13.98 pesos per liter. These prices represent an increase of 56, 44 and 21 cents, respectively, compared to July prices. This is the highest gasoline price increase in the last 2 decades. With regard to that observed in August last year, announced prices will be by 3.0 percent higher, both in the case of Magna and Premium gasolines, while diesel will be only 1.5 percent higher. The increase will cause a rise of 0.21 percent in the inflation rate, according to market strategy firm, Finamex Casa de Bolsa. “Additionally, we must consider the indirect impacts of higher prices of gasoline, for example, transportation costs, among others, besides considering that most of the goods in this country are transported by road. We will be closely monitoring these impacts to adjust our forecast of 3.2 percent for the year-end annual inflation, “said Guillermo Aboumrad, Finamex CEO. The Finance Ministry argues that the increase in fuel prices for August is due in turn to the upturn in international reference prices for fuel prices, reflecting the recent recovery in crude oil prices. Fact is, the people of Mexico is absolutely convinced that this “gasolinazo” (as it is commonly known), is just one more example of the false promises of President Enrique Peña Nieto, who sustained that with the so called “Energy Reform”, the prices of fuel and electricity will be actually going down, which in fact has been quite the opposite. Source:...

THE SETTLEMENT COMPANY® RENTAL TAX PAYMENT SERVICE

THE SETTLEMENT COMPANY® RENTAL TAX PAYMENT SERVICE

Jul 30, 2016

Under Mexican law, income generated from properties located within Mexican territory are subject to taxation, even if the owners are foreigners and even if all funds are collected in accounts located outside Mexico. For many years it has been a major issue for both Mexican tax authorities and individuals attempting to comply. For years a Federal Taxpayer ID was required to file and pay the tax. In order to obtain this tax ID one needed to be a resident of Mexico. This was lose-lose for both the authorities and the foreigners who were willing to pay but baffled by the issues involved to “get legitimate”. After more than five years of Settlement Company® dialogue with Mexican tax officials, a resolution was made in which the foreign property owner could appoint a Mexican company to pay his or her taxes and dispense with all other formalities. This has become reality! Mexican authorities are now looking seriously to collect this long-neglected source of tax revenue and foreigners not only are lining up to pay but also to receive the receipts for payment of the taxes which can then be credited against taxes paid in their native country under the terms of the NAFTA treaty. Remember! no double taxation is permitted under the terms of the treaty! If you have a rental property in Mexico contact us for details. info@settlement-co.com John K. Glaab, CIPS* * (Certified International Property Specialist) Vice President, International  Marketing International REALTOR Member of the Year (2012) Founding Member, AMPI Los Cabos Founding Director, Global Mexico Real Estate Institute Certified Negotiation Expert Tel 612 123 5056 # 0    cel 612 157 7903 URUAPAN 452 524 3802 www.settlement-co.com www.facebook.com/settlementco www.globalmexico.org ABOUT THE SETTLEMENT COMPANY® The Settlement Company combines the resources, knowledge and the years of experience of our professional international staff. These individuals have brought together a set of standards that have responded in a creative, quick and cost effective manner to the constantly evolving and highly complex real estate related requests of our clients. To date, these skills have assisted real estate agents, law firms, investors, financial institutions and the public at large, in all of the Republic of Mexico and the United...

UABC fosters bat environmental relevance

UABC fosters bat environmental relevance

Jul 25, 2016

In order to Foster awareness and sensitivity about the importance and benefits of conserving and protecting the life of bats and their habitat, the Wildlife Manage and Conservation Group of the University Autonomous of Baja California (UABC) celebrated the Day of the Bat. Professor Aldo Antonio Guevara Carrizales, Since Faculty teacher and responsible for this activity, said that for this year’s event the guests of honor were boys and teenagers of the association for the deaf of Ensenada “Manos que hablan” (Hands that talk in Spanish). The activities were: A tour of the Caracole Museum facilities as well as the puppet show called “Bats and humans, we can live together as brothers”, which the kids enjoyed. The Bat Day celebration has been an activity organized by the Wildlife Manage and Conservation Group for nine consecutive years, the group is formed by students and alumni from the Biology School and the Dryland Ecosystem Management Master Degree students, both from the UABC. These nocturnal mammals are relevant for the environment as well as the human beings since they help control insect pests and they are pollination aides of sorts for plants such as agave, pitahaya, and several species of cactus, among others, that is why to provide information about them. Due to the lack of knowledge and information about the importance of bats in ecosystems, they are threatened and their habitat has been harmed by mining activities and the implementation of Eolic energy...

1,554 million pesos for Baja California: Kiko Vega

1,554 million pesos for Baja California: Kiko Vega

Jul 25, 2016

Fresh from his promotion tour of Baja California in Europe, Governor Kiko Vega said it was a success and it caught attention of several investors, which means more money for the State’s development and more jobs, even when some critics deem these jobs are not enough for the State needs in terms of salaries and job nature. It is important for “Baja Californians” to see the state growing regarding job opportunities, but they are also concerned about the nature and relevance of those jobs in order to leave behind the idea of our State as a low labor cost production center. Investments of one 1 billion 554 million pesos (approximately 84 million dollars) resulted from Baja California (BC) Governor Kiko Vega European Tour of economic promotion, which include several companies that are already investing in the State, which is  a reiteration of European companies confidence in Mexico as an investment destination. Carlo Bonfante, BC Secretary of Economic Development said the UK’s Farnborough Fair the world’s biggest aerospace fair was a very productive event for the State, because many investment prospects were visited and he had the chance to meet several high executives of different companies and he emphasized HONEYWELL’s operation enhancement which means a fifteen million dollar investment in tunnel technology for its Mexicali plant. ESTERLINE is another company that will expand operations in Baja California, its electronic equipment and sensors manufacturing for the aerospace industry will invest 35 million dollars (647.5 million pesos) and will hire three hundred additional employees with which the company will employ around one thousand three hundred people. Progressive Products de Mexico, a Belgian textile company, will invest an extra 25 million dollars (462.5 million dollars) and 500 new jobs for its Tijuana plant, and medical devices manufacturer CODAN, announced an investment of 9 million dollars (166.5 million pesos) in Tijuana which will create 150 mew...

21 “narco-fields” destroyed by Baja California State Police

21 “narco-fields” destroyed by Baja California State Police

Jul 25, 2016

Twenty one illegal poppy and marihuana fields have been destroyed by the State Preventive Police of Baja California in the last three years, making possible the destruction of almost one million five hundred thousand plants, according to a press release of Baja California State Public Security Secretary, Daniel de la Rosa Anaya. The Preventive State Police (PEP in Spanish) Airborne Unit has detected the fields, as a result of helicopter surveillance flights in the State high mountain ranges, locating sophisticated irrigation and agro-technology systems. According to the press release, this operation was the result of intelligence gathering, organized crime members detention and interrogation as well as aerial vigilance, as part of the Coordination Strategy strategies. The PEP helicopter is the only one of its kind in Mexico, due to the high degree of training and skills of the elements who operate it, which have been trained in the USA and are paramedical certified staff for immediate reaction in case of emergency. The most recent and relevant case was a seizure of more than half a million poppy plants which would have been used to produce heroin, the PEP found them in the mountain area of the 2000 Boulevard in Tijuana. There have been other important findings in the last three weeks, when the PEP destroyed four “narco-fields” south of Ensenada where more than 350 thousand marihuana plants were incinerated. These are the numbers of destroyed plants in Baja California 2013-2016 Ensenada: 11 Tecate: 6 Tijuana: 2 Playas de Rosarito: 1 Total : 1 million 493 mil 769 dstroyed...