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Enron Mail |
Carol St. Clair
EB 3892 713-853-3989 (Phone) 713-646-3393 (Fax) carol.st.clair@enron.com ----- Forwarded by Carol St Clair/HOU/ECT on 07/11/2000 05:44 PM ----- Jeff Blumenthal 07/11/2000 05:42 PM To: Carol St Clair/HOU/ECT@ECT cc: Subject: Re: questionnaire on Internet trading on commodities.DOC Carol, I've reviewed the attached questionnaire and have the following comments: 1. Section 5. -- I am not aware of any restrictions on the ability of a non-Mexican entity to offer financial derivatives to Mexican counterparties where such countparties are "vetted" before trading commences. It seems that, for so long as derivatives are not offered to the public at-large, then such an offerings can be made. 2. Section 9© -- A withholding tax, as well as value-added tax, will apply to payments made by a Mexican counterparty to a non-Mexican entity pursuant to certain financial derivative transactions. In addition, a non-Mexican entity making payment to a Mexican counterparty will be required to pay Mexican value-added tax pursuant to those certain transactions. (Please refer to the e-mail that I sent yesterday, which indicates that payments pursuant to those 16 financial derivative transaction descriptions provided to me by Jaime Williams will not be subject to any Mexican withholding or VAT tax since they fall outside of the regime that would otherwise subject such payments to Mexican tax.) I have been working extensively with Mexican tax counsel on these issues, so please consider Rich, Heather y Mueller's "No" response as relevant only to a tax applicable to transactions conducted through the internet (and not with respect to the underlying transaction). Please call me at ext. 35777 with any questions. Best regards. Carol St Clair 07/11/2000 09:53 AM To: Jeff Blumenthal/HOU/ECT@ECT cc: Subject: questionnaire on Internet trading on commodities.DOC Jeff: FYI. Let me know if you have any thoughts on this. Mark and I hope to talk with Pablo sometime tomorrow. Carol ----- Forwarded by Carol St Clair/HOU/ECT on 07/11/2000 09:52 AM ----- "Pablo Perezalonso" <pperezalonso@rhm.com.mx< 07/07/2000 08:52 PM To: carol.St.Clair@enron.com cc: Subject: questionnaire on Internet trading on commodities.DOC Attached please find an initial draft of the questionaire. We are still working on it and we will send a revised draft next week. Regards Pablo Perezalonso Egu?a Ritch, Heather y Mueller, S.C. pperezalonso@rhm.com.mx tel: (52) 5-2076533 - questionnaire on Internet trading on commodities.DOC
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