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Monday, May 23, 2022

Va Morena in the Senate of the Republic for regulating informal trade

Mexico.- The parliamentary group of the Morena party in the Upper House of the Congress of the Union promotes a legislative initiative whose purpose is to regulate informal trade throughout the Mexican Republic.

This new regulatory framework contemplates Economic sanctions, just like him merchandise withdrawal to sellers who do not comply with the stipulations.

The Morenoist Senator Maria Soledad Luévano presented a draft decree9 that promulgates the Law for the Promotion of Informal Trade, which was sent to the commissions of Economy and Second Legislative Studies for analysis by its members.

According to the project, informal commerce has always occupied a relevant place in Mexico’s public finances, which is why it has become a constant in the economy of millions of Mexican families.

In this framework of things, Luévano Cantú proposes the creation of a registry, which will be carried out by the Ministry of Economy, in which all merchants in the nation who are outside the tax incorporation regime must register, that is, they do not pays Taxes to the Tax Administration Service (SIT) or contributions to the Mexican Social Security Institute (IMSS).

It also contemplates supporting informal traders with a subsidy, which consists of a 25% tax tax payments that must be paid for 5 consecutive years, counted from the first moment they regularize their situation.

In addition, it contemplates prohibiting informal trade in Mexico, as well as determining the corresponding reprimands for those companies that are not correctly registered in the registry.

Read more: Undersecretary did speak of limiting operations in the AICM: they refute García Vilchis

It points out that, when a trade without tax registration is detected, The authorities can proceed to remove all goods., which will be returned until your registration is regularized and the penalty imposed is covered.

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