Qualified manufacturers that know the process of navigating the rules receive a one hundred percent refund on VAT and IEPS taxes paid. Help and education on these issues is available from the Mexican Customs Brokers association and Mexico’s Tax Administration Service.
The Mexican Customs Brokers Association, known by the Spanish acronym CAAAREM, along with the Tax Administration Service (SAT) of the Mexican Ministry of Economics, have recently held a joint series of seminars aimed at explaining the particulars of the IMMEX certification, as well as the process of ensuring the receipt of one hundred percent refunds on payments of Mexcan value-added and IEPS taxes. Thus far, the sessions conducted by the Mexican Customs Brokers Assocation and the SAT have been held in the cities of Monterrey and Tijuana. Future sessions will be held in Ciudad Juarez on November 25 and in Mexico City on December 2, 2015.
According to Mexican Customs Brokers Association representatives, the effort being undertaken on their part is being executed with the purpose of “clarifying doubts that may exist regarding compliance with their fiscal obligations” before both the Mexican Customs Service and the country’s federal tax authorities.” Companies that have fulfilled the requirements outlined in Article 28-A of Mexico’s Value-Added Tax Law and Article 15-A of the IEPS Tax Law can proceed to pursue their IMMEX certification rating as A, AA or AAA, and qualify for the accompanying tax refunds and exemptions.
The Mexican customs brokers and SAT representatives have outlined how the program and exemptions work for companies that introduce goods into Mexico for processing and subsequent export earlier this month in Monterrey and Tijuana, and will do the same in sessions that will take place in the near future in Ciudad Juarez and Mexico City.
Although the new system for recieving exemption from the taxation of temporary imports under the IMMEX program will not be fully implemented and functional until January of 2015, both the Mexican Customs Brokers Association and the Mexican Tax Administration Service (SAT).