EU Mechanism to Avoid Tax Accumulation | Ours Abroad News

The EU has created a mechanism to prevent tax accumulation and request compensation, impacting the automotive sector and trade relations with Mexico and Canada.


EU Mechanism to Avoid Tax Accumulation | Ours Abroad News

A mechanism of the European Union has been created with the aim of preventing the accumulation of taxes and facilitating compensation claims. This mechanism seeks to simplify processes and provide a more efficient way for taxpayers.

According to information published by 'El Economista', the President of the United States, Donald Trump, has taken steps to tighten rules in the auto parts sector regarding Mexico and Canada. The required value of regional content to exempt tariffs has been increased, while tariffs have been reduced and a 3.7% refund on the value of cars manufactured in the United States has been established.

On the other hand, in 'La Jornada', the head of government of Mexico City, Claudia Sheinbaum, has held former President Zedillo responsible for the greatest economic crisis the country has faced. Sheinbaum pointed out that in 1994, Zedillo warned his friends about the devaluation of the peso, which generated controversy and criticism from the population.

In 'Reforma', it is reported that Trump has signed executive orders aimed at easing taxes in the auto parts sector. Additionally, it is mentioned that the banking bailout following the so-called "error of December" has incurred a cost of $2 trillion for Mexico, with an outstanding debt of more than $1 trillion, according to figures from the Treasury.

In 'El Universal', a corruption network related to the purchase of medications in Mexico has been uncovered. A total of 59 suppliers are being investigated for presenting false documentation and for lacking a pharmaceutical business reason, which evidences illegal practices in the sector.

Finally, in 'Milenio', it is highlighted that vehicle products manufactured in the region will not pay tariffs if they constitute at least 85% of the car assembled in the United States. Furthermore, it is mentioned that there are already 14 lawsuits against municipal agents for organized crime and disappearance of people, according to Attorney General Alejandro Gertz Manero.