Anti-corruption – Integrity Policies
July 12, 2018
On the occasion of the recent elections that we had in Mexico, on December 1, 2018, Andrés Manuel López Obrador will be the Constitutional President of the United Mexican States, who has argued that the fight against corruption will be one of its main axes in its next administration.
Within his speech, he has repeatedly stated and before several forums, the three pillars of his government on which his bases will be set: (i) implementation of an austerity plan in the federal public administration; (ii) no increase in taxes; and, (ii) fight against corruption, a problem in which has emphasized that it costs to Mexico the equivalent of 9% of the Gross Domestic Product.
Regardless the percentage of 9% is real or not, it is evident that the corruption has cost a lot to our country, however, before an imminent tax policy that will be characterized by the absence in the increase of taxes, it is conclusive that the fight against corruption will be a fundamental instrument for the new federal government to obtain the necessary resources to be able to face its obligations, among them, the several social and sponsorship policies announced by the elected President.
The federal legal regulations in order to prevent, detect and punish corruption conducts establishes as penalties for a legal entity, amounts equivalent to twice the benefits unduly obtained, or if not, the amount of MXP $80,600.00 and up to MXP $120’900,000.00, and even the suspension of activities or until its dissolution.
It is very important to review and analyze that within the corporate governance of any legal entity exists anti-corruption policies, mechanisms and integrity tools, in order to have the best practices in that matter, since they could mitigate a possible penalty.
If you have any questions regarding the foregoing, please do not hesitate to contact us.