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Juarez, Mexico

Kreston Juarez Mexico

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Brochure describing Kreston´s presence in Juarez Mexico

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Page 1: Kreston Juarez Mexico

Juarez, Mexico

Page 2: Kreston Juarez Mexico

Presentation

Kreston International is a worldwide network of experienced, independent accounting firms, each with its own established client base. Your business interests are looked after by members who are principals in their own firms, providing a personal and confident service. Each Kreston member strives to provide the highest quality expertise available in their respective country. The strong network of independent firms around the world adds a powerful extra dimension to your personal service by providing 24 hour global coverage and removing the need to negotiate cultural bridges.

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Table of Contents

Presentation 1 Worldwide Presence 3 Presence in Mexico 7 Local Presence 9 Our Partners – Expertise 13 Our Services (Offered Locally) 17 Assurance 17 Tax 20 Transfer Pricing 25

Foreign Trade 27 Legal 29

Contact Information 31

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Worldwide Presence

Kreston International Limited is a worldwide network of independent accounting firms. Founded in 1971 we offer reliable and convenient access to quality services through member firms located around the globe. Currently ranking as the 13th largest accounting network in the world, Kreston now covers 95 countries with 700 offices providing a resource of over 19, 500 professional and support staff. In today's economic climate, with rapidly developing new markets, improved communications, and greater international mobility, businesses operate on an increasingly global scale. Successful global organizations choose to use the services of accountants and advisors in each individual country, to take advantage of their local expertise and contacts. Our members provide a personal and confidential service, while looking after your business interests. Kreston members strive to provide the highest quality expertise available in their respective country. The first-hand knowledge of local regulations and customs provided by your Kreston member firm can give your organization an invaluable competitive advantage in the world market place.

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Working with an established firm in your destination country, you can take advantage of their contacts and local reputation. If international jurisdictions complicate the issue, Kreston members can call upon the support of the worldwide network to provide a swift, appropriate solution.

One-to-One Contact

By choosing a Kreston International member you have reduced the learning curve and the risk when entering new markets. Whatever your business, accounting and consulting requirements are, a Kreston member will be there to provide expert support. You are assured of continuity of service and personal attention at all times. The strength of the relationship between the independent firms within Kreston International adds a powerful extra dimension to this personal service by providing 24-hour global coverage and removing the need to negotiate cultural bridges.

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Copyright ©2005 Galaz, Yamazaki, Ruiz Urquiza, S.C.

Todos los derechos reservados

San Luis Potosí

Tijuana

EnsenadaNogales Ciudad Juárez

Hermosillo

La Paz

Saltillo

Cabo San Lucas

Guaymas

Reynosa

Monterrey

Los Mochis

Navojoa

GuadalajaraLeón

Zamora

Querétaro

México, DF

Tapachula

Mexicali

Mérida

Obregón

San Luis R. Colorado

Tampico

Puebla

Total Income Growth Index Year/End

(,000) (%)

1. Deloitte 3,550 11 May 08

2. PWC 2,636.50 11 Jun 08

3. E&Y 1,847.60 18 N/A4. KPMG 1,614.80 10 N/A

5. Kreston International 340.10 129 Oct 08

6. Nexia International 298.50 -11 Jun 08

7. RSM Bogarín, Erthard, Padi l la , Álvarez & Martínez 269.00 -11 Dic 08

8. Moore Sthepens México 260.10 3 Dic 08

9. Sa l lez, Sa inz - Grant Thornton 258.70 17 Jul 08

10 .Howarth Casti l lo Miranda 223.70 14 Dic 08

Main Accounting, Networks and Associations Firms: Income reference -Mexico

Firm

Presence in Mexico

The affiliated firms to Kreston International in Mexico are public accounting firms and business consultants who provide independent reliable and timely access to quality services throughout Mexico.

• 26 offices. • 68 partners. • 731 professional and support staff.

According to “World Accounting Inteligence” through its “International Accounting Bulletin 2008 Mexico Survey”, the survey of Mexico 2008 ranks, Kreston within the first 5 places of Firms, Networks and Associations of Certified Public Accountants with a growth rate of 129%.

Kreston International

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Kreston International

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Local Presence In Juarez we have incorporated a group of professionals with vast familiarity in international business gathered by over 30 years of experience as partners/professionals in major accounting firms such as the Big Four ones. The expertise of our local firm has been accomplished through the continuous work with multinational companies as well as Mexican industrial / commercial corporations who are present or former clients as follows:

Multinational entities General Motors Corp.

Delphi Automotive

Tyco

Strattec

Yazaki

Intermatic

Scientific Atlanta

Keytronic

Cummins

Hopkins

Stoneridge

ADC

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Philips

Sippican

Johnson Controls

Hubbell

Lear Corporation

BRK Electronics

Sunbeam-Oster

AVX

Johnson & Johnson

Furukawa

AVX

Lexmark

Tompkins

Velcro

National Instruments

Newell Rubbermaid

Thomson

Toshiba

ACS-BPS

Plexus

Foxxconn

Nichirin Couplertech

Shure

First Majestic Silver, among others.

s

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Domestic (Mexican) Enterprises Also, as to the Mexican market, the area of expertise, of our local firm, includes assisting clients on a wide variety of the areas such as:

Written media

Radio broadcasters

Construction

Supermarkets / Convenience stores

Franchises

Hotels

Hospitals

Wholesalers

Gas

Oil

Freight

Power

Restaurants

Auto retailers

Bottled beverages

Furniture

Mining

Textile

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Our Partners We salute the joining of our new partners in Juarez averaging 28 years of experience in key positions in Big Four Firms, as follows:

Antonio Aguirre - Tax CPA by Escuela Bancaria y Comercial, Mexico City Master of Business Administration by University of Phoenix Former Managing Office Senior Partner at Deloitte Juarez Office for 20 years 33 years of experience in Tax Area Mainly in: Corporate and Maquila taxes

Foreign trade and NAFTA regulations

International transfer pricing regulations

Tax treaties

Corporate restructuring in fiscal, accounting, legal, and financial areas

Mergers and acquisitions

Tax Consolidation

Non-Residents / Expatriates Taxation Memberships

Mexican Institute of Finance Executives

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CPA Association

The Maquiladoras Association

Professorate activities

Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM)

Instituto Tecnológico de Juarez (ITCJ)

Escuela Bancaria y Comercial

Professional work and engagements

Author of taxation articles

Local and international tax speaker

Advisor to Coparmex

Member of the Board of Economic Development Association

Miguel García Spíndola - Assurance CPA by Instituto Tecnológico Autónomo de México (ITAM) Former Managing Audit Partner at Deloitte Juarez with more than 32 years of experience, focused in:

Auditing public companies domestic (US) and transnational entities.

Focused mainly in the manufacturing industry

Advising clients in a wide variety of industries

Advising in mergers, acquisitions, consolidations and spin-offs

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Memberships

Instituto Mexicano de Contadores Públicos.

CPA Association (Vice-President of Companies Sector).

Mexican Institute of Finance Executives (IMEF) President 2005 Board.

Professorate activities

Instituto Tecnológico y de Estudios Superiores de Monterrey (Campus Cd. Juárez and Chihuahua)

Sergio De La Torre Cadena – Tax

CPA by Instituto Tecnológico De Juarez (ITCJ) Lawyer - Universidad Autónoma de Ciudad Juárez (UACJ) Graduate in Tax Law by Universidad Panamericana Guadalajara Mexico Seat

Graduate in International Tax Law and Transfer Pricing by Universidad de Salamanca – Spain. Graduate in International Tax by Instituto Tecnológico Autónomo de México (ITAM) – Mexico D.F. Former Managing Tax Partner at Deloitte Juarez with more than 20 years of experience.

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Mainstream experience

Developing the Transfer pricing area in Deloitte - Juarez’ Office since 1996 and developing projects for maquila industry as to international taxation and transfer pricing.

Developing the foreign trade area in Deloitte – Juarez´ performing impo/expo structures for maquila industry.

Tax Planning for domestic (Mexican) entities involving tax consolidation, corporate reorganizations, and expats issues.

Memberships & Professional Activities

CPA Association

Mexican Institute of Finance Executives (IMEF) President 2007 Board.

Former Counselor for National Maquiladora Association (CNIME Consejo Nacional de la Industria Maquiladora)

Former advisor for Maquiladora Association (AMAC)

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Services Based upon our experience, we locally offer the following specialized services:

Assurance Our Audit Area offers, compliance with International Auditing Standards services, with an approach derived from gaining a real understanding of your business and of the quality and effectiveness of your accounting and control systems. We provide assurance services oriented to validate financial information for use by senior management, boards of directors, investors, credit institutions and other company stakeholders. Our auditors go one step further by offering advisory services to identify and manage risks and key business opportunities. The full range of accounting and outsourcing services is available including:

Financial statement audits

Preparation of financial statements including compliance with International Financial Reporting Standards (IFRS)

Audits for the purchase and sale of companies (due diligence)

Review and design of internal control systems

Limited financial statement reviews on an interval basis

Review of specific financial statement items

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Limited financial statement reviews on an interval basis

Review and assistance for the registration of companies with the Mexican Stock Exchange and other stock exchanges worldwide

Help the audit committee focus on what is most important to fulfill its responsibilities. o Provide clear, concise, relevant information. o Provide materials with sufficient time to allow the audit committee to prepare

effectively for meetings. o Share our intellectual capital by highlighting and tailoring information relevant to the

company. o Communicate difficult matters in an open, transparent, candid manner o Address likely questions proactively. o Provide candid, insightful feedback regarding the audit committee’s activities o Seek the audit committee's assessment of our performance.

Limited-scope audits to be performed [at subsidiaries/ divisions/companies] that are of individual financial significance to the Main Company and at those: o That have or are likely to have specific identified risks of material misstatement o Where we have determined that a limited-scope audit is necessary to obtain sufficient

evidence to express an opinion on the consolidated financial statements of the main Company.

Limited-scope audits use a materiality that is determined at the Main Company level. o A limited-scope audit, generally consisting of specific audit procedures performed on

relevant internal controls and appropriate substantive testing related to the account balances where specific risks have been identified or in areas management or the audit committee has requested us to address.

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Most international subsidiaries require audits to fulfill statutory requirements in each country.

The procedures allow the applicable Kreston member firm in the respective jurisdiction to render an opinion on the statutory financial statements of the subsidiary, and are governed by local statutory requirements.

The applicable Kreston member firm in the respective jurisdiction will also perform specific auditing procedures related to the financial statements and ICFR in accordance with PCAOB standards, as specifically directed by the corporate audit team, to achieve sufficient coverage at a consolidated level. o These procedures will be performed prior to the issuance of our reports

on the consolidated financial statements and ICFR.

Revision of the reconciliation between U.S. and local GAAP.

Statutory audits o The applicable Kreston member firm in locations classified as “statutory

audits” will fulfill the local statutory audit requirements. o The team will perform specific audit procedures related to the financial

statements in accordance with the International Standards on Auditing. o It has been determined that specific audit procedures relating to ICFR and

the consolidated financial statements do not need to be performed at these locations to obtain sufficient coverage at a consolidated level prior to the issuance of our consolidated audit reports.

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Tax Our Tax Practice advises, identifies, designs and implements comprehensive tax strategies which facilitate efficient compliance with local and international regulations.

Corporate Taxes Advice on the correct application of tax regulations. Compliance with tax regulations in both daily operations and in new projects and unusual transactions. Issuance of expert opinions for tax purposes Tax diagnostic of companies. Reviews designed to minimize risks and maximize opportunities based on an analysis of present and future requirements. Development of tax strategies. Identification of areas of opportunity and analysis of solutions, based on the specific needs of each company. Tax audits. Consultation provided during tax audits performed by the tax authorities. Purchase audits (due diligence). Detection and quantification of tax attributes, opportunities and contingencies in company purchase and sale transactions, through the analysis and review of the tax situation of companies . Analysis of corporate structures. Implementation of different mechanisms to optimize resources: capital reductions, mergers, breakups and corporate restructurings in general. Compliance with tax obligations

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• Provisional and annual tax returns (income tax, value added tax and asset tax, among others)

• Provisions for federal and local taxes • Special tax reports • Cost of sales • Distribution of dividends • Tax consolidation • Share sales • Crediting of taxes paid abroad • Procurement of resolutions and specific rulings from the tax authorities • Refund and offsetting of recoverable balances • Tax incentives and administrative facilities

Fringe Benefits and Social Compliance Consulting. Advice on the correct application of tax regulations. Procurement of resolutions and rulings. Specific consultations with the competent authorities. Handing official requests made by the authorities. Desktop reviews, official company visits, specific visits (Occupational Hazard Insurance), difference schedules (SIVEPAS).

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Diagnostics of compliance with tax regulations. Evaluation that the obligations related to income tax, Social Security and local taxes are fulfilled in accordance with the law; analysis of occupational hazard insurance and employment benefit plans. Reports on compliance with tax obligations. Social Security Law, INFONAVIT Law, Financial Code for the Federal District and the Tax Codes of the States around the country.

International Personnel Assignments (Expatriates) Definition of the applicable tax regime. This is achieved through entry and exit interviews with expatriates, and with Mexican personnel on international assignments. Annual returns. Preparation of the annual return for expatriate personnel located in Mexico. Estimated payments and mirror payroll. Preparation of estimated payments of income tax or, if applicable, calculation of the mirror payroll. Tax equalization. Calculation of tax equalization, so that the expatriate does not pay more tax than that payable in his country of origin. Formalities. Procedures with the tax authorities, tax projections, regularizations (Registration in the Federal Taxpayers' Registry; electronic signature; requests for refund of recoverable tax balances; notice of change of tax residence; handling different official requests).

Other services. Regularization of the expatriate's tax situation, cost projection (tax estimates of the cost of an expatriate in Mexico).

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International Taxation

International tax advice. Optimization of operating structure of companies with multinational investments or operations. Tax analysis and planning. Development of strategies designed to optimize the effective global rate. Procedures involving requests for rulings or authorizations. Procurement of these types of documents, which are issued by the international area of the Mexican tax authorities. Investment in Mexico. Definition of the most efficient way to invest in Mexico for tax purposes. Review of compliance with tax obligations. Prevention of risks and support to deductions derived from payments abroad.

Local Taxes

Consulting. Advice on the correct application of tax regulations. Procurement of resolutions and rulings. Specific consultations with the competent authorities. Handing official requests made by the authorities. Desktop reviews. Official company visits, specific visits.

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Diagnostics and reports on compliance with local tax obligations. Real estate property tax, payroll tax.

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Transfer Pricing

Transfer pricing studies.

Preparation of transfer pricing studies, documentation of transactions and adjustments in the event of a possible review by the tax authorities.

Economic consulting.

Analysis of transfer pricing with arguments that can be successfully defended before a tax authority.

Competent authority and legal actions.

Strategic planning to anticipate obstacles and opportunities inherent to expansion; compliance with transfer pricing regulations in operating jurisdictions and advice in the event of a possible tax audit.

Private transfer pricing rulings.

Preparation of information, search for successful resolutions; evaluation of the conditions of rulings approved by the authorities; preparation and filing of annual information required by tax authorities.

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Foreign Trade and Customs

Advice on the correct application of customs regimes.

Final or temporary imports or exports, goods transit, manufacture, transformation and repair in duty-free zone, strategic duty-free area, bonded warehouse.

Free trade agreements.

Utilization of free trade treaties and agreement signed by Mexico, and explanation of the rules of origin applicable to products.

Consulting services.

Solution of all kinds of consultations and ongoing advice, as well as process reengineering, definition of areas of opportunity and preparation of procedures based on each of the Company's operating schemes.

Foreign trade incentives.

Temporary import programs to produce exports (Pitex) and export maquila companies, major export companies (Altex), Foreign Trade Companies (Ecex), refund of import duties paid on goods incorporated into exported goods (Drawback), customs guarantee

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account, goods clearance with at-source review, certified companies, sector programs (Prosec).

Dealings with the authorities.

Procedures related to non-tariff regulations and barriers (import and export permits, Official Mexican Norms [NOM], studies for the creation or modification of tariff codes, importers' list, authorizations, refunds and offsetting of foreign trade taxes).

Foreign trade audits.

Review of import/export transactions, and evaluation of tax and customs risks and opportunities.

Foreign trade law.

Advice on situations involving unfair foreign trade practices, dumping or subsidies.

Advice on commercial aspects of exports.

Utilization of development, traffic and logistical schemes, foreign market surveys, and initial contact with potential customers.

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Legal Our Legal Practice provides tax-legal and corporate services which help anticipate and resolve different company needs or legal disputes with the tax authorities and, if applicable, with the competent courts.

Tax Litigation

Tax litigation at all levels. Analysis and design of legal strategies to challenge actions taken or laws issued by the federal or local authorities in tax matters.

Tax/Legal Services

Tax rights and obligations (including customs). Optimization of the generation, determination and payment of federal and local taxes; study of the interpretation and application of tax regulations; design of corporate structures or restructurings; establishment of tax effects derived from the execution of all kinds of civil or business contracts; advice on the acquisition of going concerns; the development of real estate, industrial or financial projects; design and execution of litigation strategies; advice on the preparation and procurement of rulings from the tax authorities; legal advice during official company visits or any review conducted by the authorities; legal assistance in inspection actions taken by the competent authorities.

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Contact Information

Antonio Aguirre [email protected]

Miguel García Spíndola

[email protected]

Sergio De La Torre [email protected]

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C. Melquiades Alanís No. 5865 – B Partido Díaz

Cd. Juárez, Chihuahua México 32310

+52 (656) 251 0110

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“People do business with people they know, like and trust“

Kreston International

Kreston International is a global network of accounting firms each of which is a separate and independent legal entity and as such has no liability for the acts or omissions of any other member firm. The transition from association to network status introduces a number of additional regulatory requirements to be implemented by member firms during 2010. Kreston International Limited is a company registered in England (No: 3453194) and limited by guarantee. Kreston International Limited provides no services to clients and has no liability for the acts or omissions of any member firm.