Last Monday January 9th, the National Institute of Statistics and Geography (INEGI) reported the update of the Unit of Measurement and Update that will come into effectiveness on February 1st, 2023, with an increase of 7.82 percent compared to the previous year.

In this regard, the new value of the UMA for this coming year will be reflected in pesos as detailed below:

According to INEGI, the Unit of Measurement and Update is the economic reference in pesos that determines the amount of payment of the obligations provided for in regulations and in federal, state, and municipal legal provisions. Some of these obligations include the payment of taxes, fines, credits or labor sanctions.

The increase in the UMA, implies substantial economic and social changes, as well as important variations regarding labor matters. It is highly recommended to know the yearly increase in the UMA in order to quantify the impact it will have on your company’s finances, as well as to know the increase in labor sanctions which are determined based on this measure.

At Sánchez Devanny, our multidisciplinary team, with experts in labor and social security matters, have extensive experience to be able to advise you, helping you to strengthen your financial planning and full compliance with your obligations in relation to the UMA.

This content was prepared by Alfredo Kúpfer-Domínguez ([email protected]), Sebastian Rosales-Ortega ([email protected]), Fermin Lecumberri-Cano ([email protected]) and Francisco Garcia-Lerma ([email protected]).