By: Brenda Cordova, Braumiller Law Group México Counsel
Generally, Mexican taxpayers are required to issue a CFDI for their acts, duties, income, or tax retentions. The so called CFDI is an acronym for Comprobante Fiscal Digital por Internet , and some refer to it as the electronic invoice.
By: Brenda Cordova, Braumiller Law Group México Counsel
By Brenda Cordova, BLG Mexico Legal Counsel
On November 15, 2020, after 8 years of negotiations, one of the largest Free Trade Agreements in the world was signed. It is the Regional Comprehensive Economic Partnership (RCEP).
By Brenda Cordova, Braumiller Law Group Mexico Counsel
Customs authorities may investigate companies´ compliance with the customs procedures and rules of origin and initiate a new origin verification proceeding against those that used a NAFTA Certificate within a 5 year retroactive period.
By: Brenda Cordova, Braumiller Law Group Mexico Counsel
On April 6, 2017, Mexico published in the Mexican Official Gazette an enactment decree to amend the Marrakech Agreement that created the World Trade Organization (WTO). This amendment consisted of the incorporation of the Agreement on Trade Facilitation (ATF) set out in Annex 1A to the WTO …
By: Brenda Cordova, Mexico Legal Counsel, Braumiller Law Group Have you heard about the Mexican “Fourth Transformation (4T)”? Well, this is how Mexican President Andres Manuel Lopez Obrador (AMLO) wants his term in office to be known as. He says, throughout the course of the history, Mexico has gone through 3 important episodes: 1. Independence,
By: Brenda Cordova, Mexico Legal Counsel, Braumiller Law Group USMCA (T-MEC as it is formally called in Mexico) will enter into force on July 1, 2020. At least this is what the government of the Party members, the United States, Mexico and Canada have announced. In this case, operations occurring after this date will no
by Brenda Cordova, BLG Mexico Attorney In November of 2006, the Mexican government abolished the Maquiladora and PITEX Programs and created the IMMEX Program. IMMEX stands for Industrial Manufacturera Maquiladora y de Servicios de Exportacion (literarily translated into English as Manufacturing Maquiladora and Export Services Industry). Generally, an IMMEX is a business entity authorized by
Section 301 – Increased U.S. Import Duties to Chinese Products: How Will This Impact NAFTA Article 303 and IMMEX Operations?
By BLG Mexico Attorneys Brenda Cordova and Francisco de la Cruz In Mexico, the manufacturing industry, formerly known as PITEX or maquila, and currently known as IMMEX (Manufacturing and Export Services Industry), has had considerable growth due to NAFTA. This was mainly because of the low labor cost, the import duty reduction, and the preferential
By Brenda Cordova, BLG Mexico Attorney On May 31, 2018, the Mexican government announced a potential increase on import duties on specific products originated in the United States. This was a response to the United States Proclamations 9704 and 9705, under Section 232 of the Trade Expansion Act of 1962, which included higher import duties
By Brenda Cordova, Braumiller Law Group, Mexico Attorney Mexican customs and trade regulations are constantly updated. Sometimes over 8 times a year.The most recent amendment was published on December 22, 2017. The government is now releasing “resoluciones anticipadas” (similar to informed compliance publications) on their website. These publications will then become law when published on
On March 27, 2017, the Mexican Minister of Economy published in the Official Gazette a decree regarding the establishment of a Legal Affairs System for Foreign Investment procedures (Sistema de Asuntos Jurídicos para la Inversión Extranjera) aimed to improve and facilitate the communication between the government and private entities. The purpose of this system is
By: Brenda Cordova, Mexico Attorney During the presidential campaign, U.S. President elect Donald Trump repeatedly announced his low regard for a few select trade agreements, and specifically stated that he was going to renegotiate NAFTA, and if he did not get the deal he wanted, he’d withdraw from the treaty and start all over in
By: Brenda Cordova, Mexico Attorney Introduction IMMEX stands for Maquiladora, Manufacturing and Export Services Industry. This is a program created by the Mexican government to attract and promote foreign investment. Generally, an IMMEX, or maquiladora, can temporarily import into Mexico goods that undergo a manufacturing, transforming, and/or repairing of the industrial process for subsequent export.
By: Brenda Cordova, Mexico Attorney Introduction Currently, there are over 6000 entities participating in the IMMEX program operating in Mexico. IMMEX (Industria Manufacturera, Maquiladora y de Servicios de Exportacion, formerly known as maquiladoras and/or PITEX) plays an important role in the Mexican economy, and therefore, the government promotes this program to foreign investors which provides several
By: Brenda Cordova, Mexico Attorney On April 20, 2015, the Mexican government published in the Diario Oficial de la Federacion (Mexican Federal Register) its new Reglamento de la Ley Aduanera, or Regulations to the Mexican Customs Law. It supplements the Mexican Customs law, published on December 2013. This new regulation consisting of 249 articles became
Amidst the social and political turbulence in Mexico, there is new Energy Reform legislation.
What is the “A”, “AA” or “AAA” certification for Mexican IMMEX, bonded warehouses and free trade zones in Mexico
By Brenda Cordova, Mexico Attorney On December 11, 2013, the Mexican government published its new and amended Ley del Impuesto al Valor Agregado (Value Added Tax, VAT) and Ley de Impuesto Especial Sobre Productos y Servicios (Product and Services Tax, IEPS). One of the more relevant amendments to the law was the VAT and IEPS,
By Brenda Cordova, Mexico Attorney In Mexico, the Administración Central de Auditoría de Operaciones de Comercio Exterior from the Servicio de Administración Tributaria is starting to audit and enforce the application of North American Free Trade Agreement (NAFTA) article 303 against those companies participatimg in Industria Manufacturera, Maquiladora y de Servicios de Exportacion (IMMEX). IMMEX