New requirements for the temporary importation of sensitive goods becomes effective for IMMEX companies
Recently, amendments related to general rules and criteria in Foreign Trade matters for IMMEX companies, went into effect as of Jan. 31, 2017.
While not an all-inclusive list, some of the new requirements for IMMEX companies temporarily importing sensitive goods*, are the following:
- Provide information of the sensitive goods to be temporarily imported and the finished goods to be exported.
- A special report issued by a Mexican Registered Public Accountant containing certain required information.
- Detail on the companies to whom the finished products will be later transferred.
- Sensitive goods may remain in Mexico under temporary importation for a maximum of four months.
- Companies who have been granted a VAT Certification by the Mexican tax authorities would be exempt from obtaining the authorization to import sensitive goods under the new regulations.
*Sensitive goods: Steel, iron and metal castings, textiles, aluminum among others
For more information or assistance in compliance with these new requirements, please contact our international consulting team.
