On September 8, 2025, the President of Mexico sent to the House of Representatives her amendment proposals for fiscal year 2026 (the "Bill"), which include: (I) Federal Revenue Law ("FRL"), (II) Federal Fiscal Code ("FFC"), (III) Excise Tax Law ("ETL") and (IV) Federal Duties Law ("FDL"). It should be noted that, as further discussed, the FRL contains amendments to the Income Tax Law ("ITL") and the Value Added Tax Law ("VATL").

In recent years, the regulatory and business environment has changed at an accelerated pace, both in Mexico and globally. What was once considered a recommended practice is now an unavoidable requirement.

On August 19, 2025, Banco Multiva, S.A., Institución de Banca Múltiple, Grupo Financiero Multiva (Multiva) entered into a definitive agreement to acquire the trust and common representative business of CIBanco, S.A., Institución de Banca Múltiple (CIBanco). The transaction is the result of a competitive process supervised by the Institute for the Protection of Bank Savings (IPAB), the Ministry of Finance and Public Credit (SHCP), and the National Banking and Securities Commission (CNBV).