On January 9, 2019, Mexico’s National Institute of Statistics and Geography issued an official press release regarding the daily, monthly, and annual value of the Unit of Measure and Update (UMA) that will become effective on February 1, 2019.
Starting in February of 2019, the values will be the following:
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As a consequence of the increase in the UMA and as provided by the Mexican Constitution, obligations required by federal, state, and local laws (such as tax deductibility, benefit integration, fines, governmental dues, contributions, rates, measures, rights, and others) will generally be directly related to the UMA.
Employers may want to analyze clauses contained in labor contracts, collective bargaining agreements, and policies in order to determine if the benefits are affected by the UMA increase.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.