Protocol

Protocol (1994) amending Tax Information Exchange Agreement (1989)

PROTOCOL THAT MODIFIES THE AGREEMENT BETWEEN THE UNITED STATES OF AMERICA AND THE UNITED MEXICAN STATES FOR THE EXCHANGE OF INFORMATION WITH RESPECT TO TAXES, SIGNED AT WASHINGTON, D.C., ON NOVEMBER 9, 1989

The United States of America and the United Mexican States, desiring to amend the Agreement for the Exchange of Information with Respect to Taxes, signed on November 9, 1989, have agreed as follows:

1. To amend paragraph 4 of Article 2 (Taxes Covered) to read as follows:

“4. This Agreement shall also apply to taxes imposed by a state, municipality, or other political subdivision or local authority of a Contracting State. However, this agreement shall not apply to taxes imposed by a possession of a Contracting State.”

2. To amend paragraph 4 b) of Article 4 (Exchange of Information) to read as follows:

“b) If the United States is requested to obtain the types of information covered by section 3402 of the Right of Financial Privacy Act of 1978 (12 USCA 3402) as in effect at the time of signing this agreement, it shall obtain the requested information pursuant to that provision or any other similar or équivalent provision that may be added to or substituted for the above-mentioned provision. If Mexico is requested to obtain the types of information covered by Article 117 of the Crédit Institutions Law as in effect at the time of signing this Agreement, it shall obtain the requested information pursuant to that provision or any other similar or équivalent provision that may be added to or substituted for the above-mentioned provision. Laws or practices of the requested State do not prevent or otherwise affect the authority of the competent authority of the requested State to obtain and provide the types of information covered by the above-cited provisions pursuant to the Agreement.”

This Protocol shall enter into force upon an exchange of notes by the duly authorized représentatives of the Contracting States confirming their mutual agreement that both sides have met ail constitutional and statutory requirements necessary to effectuate this Protocol. This Protocol shall remain in force as long as the Agreement being amended remains in force.

IN WITNESS WHEREOF, the undersigned, being duly authorized thereto by their respective Governments, have signed this Protocol.

DONE at Mexico City, on the eighth day of September, 1994, in duplicate, in the English and Spanish languages, both texts being equally authentic.

For the Government of the United States of America:
Lloyd Bentsen

For the Government of the United Mexican States:
Pedro Aspe Armella