Michaela Merz

Mexico: Additional benefits granted to certified IMMEX companies

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Photo_RGB_R_CAN_VC_D3_CM2_0137.jpg Port terminals distributing a variety of commodities and commercial goods. Provides container and bulk shipping hubs for marine, rail and land transport. Huge port infrastructure and impressive views. Primary and manufactured goods - forestry, steel and container shippingFirst introduced in November 2006, the IMMEX Program promotes the Mexican export industry by certifying and allowing specific Mexican exporting companies to temporarily import goods for use in an industrial process or service to produce, transform or repair foreign goods for subsequent export, or to provide export services, while being exempted from paying general import tax, value added tax and, where appropriate, countervailing duties.

The Fourth Resolution of the Mexican Foreign Trade Rule published on December 12, 2014, grants IMMEX companies which obtain Value Added Tax (VAT) and Excise Tax (ET) Certification the following new benefits:

Under Modality ‘A’:

  • Entities that obtain such Certification will be able to present a writ to the Authorities describing the possible irregularities performed in foreign trade operations and in such case, submit to the consideration of the Authorities the amounts of omitted duties and taxes, after the customs clearance took place and previous to a review from the Authorities within its faculties. The Authorities may grant a term of 60 days to correct their situation.
  • When temporarily imported goods are transferred to other IMMEX entities, OEMs, or vehicle manufacturers, such transfer can be performed though a unique declaration that supports the virtual operations performed, according to the alignments to be determined by the Ministry of Finance. This benefit will enter into force six months after the publication within the Official Gazette.
  • Entities will not be obliged to present a Customs Value Declaration, nor the Customs Value Worksheet for the determination of the import customs value on the temporary imports performed under its IMMEX Program.

Further specific benefits apply to companies under the ‘AA’ and ‘AAA’ modality.  Companies operating under the IMMEX program should take note of these developments as well.

To find out more how these changes may affect your business, please contact your local PwC representative.

Juan Ocaña
Indirect Taxes
Ph: +5255 5263 6692

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