The IMMEX program in Mexico . This program was aimed at allowing foreign manufacturers to temporarily import duty- free equipment and materials required to assemble and manufacture products for export. Domestically, a second program, the Temporary Import Programs to Produce Export Articles program (or . In 2. 00. 6, the Mexican government merged the two programs under the term, IMMEX, an acronym for Decreto para el Fommento de la Industria Manufacturera Maquiladora y de Servicios de Exportaci. The new hybrid system retained the name of the original maquiladora program in common use. Basically, a maquila (or IMMEX) operation is a Mexican manufacturer that is wholly- owned by a foreign parent, which allows the foreign company to import inputs needed for duty free production activities, conducting manufacturing on site in Mexico, and then exporting the goods abroad. This allows foreign companies to partner with their own Mexican entities, or with third- party shelter service providers in Mexico, to lower the cost and price of their exported finished goods. Requirements for companies to take advantage of the IMMEX program are relatively easy to meet, though somewhat complex. Authorizations are typically granted if the applicant commits to annual sales abroad of at least $5. USD, or invoiced exports accounting for at least 1. Much operational data is required, such as the materials intended for import, how long imported equipment will be used, copies of purchase orders, formation documents of the Mexican entity, the inter- company maquila agreement, etc. Because getting IMMEX authorization does fall under the purview of several regulatory agencies and regimes (including NAFTA), companies applying for recognition under the IMMEX program should seek out legal advice from attorney that deal specifically in cross- border compliance issues.
Advantages and benefits for using the IMMEX program are obvious. Manufacturers enjoy a streamlined system for importing goods, avoid Mexico. Additionally, they avoid paying compensatory quotas and taxes for domestic purchases incorporated into products for export. When the manufacturing process is completed, the goods that are exported from Mexico into other NAFTA countries are not subject to duties. The IMMEX program as it has been operating has been a significant draw in terms of attracting FDI into the country. For example, the Mexican aerospace industry received more than $4. Mexican Aerospace Industry Federation. Between 1. 99. 9 and 2. Mexico registered an increase of 6. Other sectors, from biomedical to appliances, are also enjoying significant benefits from Mexico. Decreto para el fomento del recinto fiscalizado estrat. Nacional (en 2012: aprox. 2009 2010 2011 2012 2013 2014 16.2 18.4 18.9 19.9. DECRETO PARA EL FOMENTO Y OPERACI. U A J Departamento de Compilaci
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