Rules will change soon for Mexican customs brokers and companies doing customs business in Mexico that should open doors for Mexican trade.
The new rules, which were passed in October 2013 and will be implemented in October 2014, reduce the number of obstacles to becoming a Mexican customs broker.
Presently:
With the new rules, companies no longer need a Mexican customs broker to do the filings for them. Instead:
These changes allow companies with intricate, well-designed customs programs to use their own licensed brokers, becoming self-filers. Self-filers can do remote location filing and do not need a physical presence at the Mexican ports. In addition, customs brokers are no longer limited to 4 ports, this means they can more easily expand their customs territories.
Along with these new rules come changes in the value added tax (VAT). At present, those near the border pay 11% VAT, while those in the interior pay 16%. Now, VAT will be 16% across the board for all transactions.
Companies that participate in the maquiladora program will be impacted by these changes. Members of the maquiladora program are certified manufacturers in Mexico.
Under the program, they currently have 18 months to import materials on a temporary basis into Mexico, with the intent to use those materials for production of finished goods. The maquiladoras can defer the payment of VAT until the goods are exported or sold within Mexico; they have 18 months to export these temporarily imported goods either as finished goods, scrap, or in the same condition as they were originally imported. Now all companies, by default, must pay the VAT up front.
While this may seem like a disadvantage to the maquiladoras, the government has developed new programs for them, and hopes that more companies will become certified in those programs, which will:
These new laws and programs are game changers. Mexico is heavily focused on promoting trade and growing their economy, with hopes of becoming one of the top ten economies in the world.