September 19, 2019

September 19, 2019

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September 18, 2019

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September 17, 2019

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Mexico’s Unit of Measure and Update to Increase on February 1, 2019

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:

 

  • Daily: $84.49 MXN

  • Monthly: $2,568.50 MXN

  • Annual: $30,822.00 MXN

  • Daily: approximately $4.39 USD

  • Monthly: approximately $133.49 USD

  • Annual: approximately $1,601.97 USD
    (For reference only)

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.

© 2019, Ogletree, Deakins, Nash, Smoak & Stewart, P.C., All Rights Reserved.

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About this Author

Maria Elena Sotomayor Garcia, Ogletree Deakins Law Firm, Labor and Employment Litigation Attorney
Associate

Maria Elena Sotomayor Garcia joined Ogletree Deakins in March 2017. Prior to joining the firm, she worked as an external consultant at the Ministry of Public Service of the Federal Government. Prior to that, she started her legal career as law clerk in an International Labor Law Firm in Mexico City.

5255-9171-1396
Ana Paula Delsol Espada, Ogletree Deakins Law Firm, Labor and Employment Law Attorney
Associate

Ana Paula Delsol Espada joined Ogletree Deakins in September of 2014. Previously, she worked in private practice at a leading law firm in Mexico City with the Labor, Social Security and Immigration Practice Group. She has also previously worked at the Civil Board on Altamira, Tamaulipas as an Agreements Secretary’s assistant from 2008 to 2010. Ana speaks both Spanish and English.

5255-9172-3043