Mexico’s IMMEX program allows businesses to temporarily import goods into Mexico, transform or manufacture them into a different or complete product, and then re-export them.
Traditionally, taxes and duties did not apply to these items. But recent changes have made the process more complex. VAT taxes have increased and companies must receive certification from Mexican customs authorities to take advantage of the program.
Because these changes have not been highly publicized, many companies are now facing non-compliance penalties, which could include an audit or loss of VAT benefit entirely.
Download our resource, “Maximize your IMMEX advantage,” to learn more about IMMEX compliance and to find out how Livingston can simplify management of your IMMEX requirements.