Publication of the new IMMEX Decree Boletin MXGA...The new IMMEX decree will extend the length of...
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MONTERREY | GUADALAJARA | TIJUANA | VERACRUZ | ENSENADA | CHIHUAHUA | MAZATLAN | ZAMORA | PUERTO PEÑASCO Av. Roble No. 300 Suite L-608 Col. Valle Del Campestre Garza García, N.L., México C.P. 66220 T: +52 (81) 8100.9818 F: +52 (81) 8356.3300 www.mxga.mx TAX COMMITTEE AUDIT STANDARDS COMMITTEE QUALITY CONTROL COMMITTEE HUMAN RESOURCES COMMITTEE SOCIAL SECURITY COMMITTEE BULLETIN Publication of the new IMMEX Decree At the opening of the 37th National Conference of the Maquila and Export Manufactur- ing Industry, Economy Secretary Bruno Ferrari announced that the Manufacturing, Maquila, and Services Promotion Decree will be published during the first two weeks of November 2010. Said Decree will strengthen the growth of this dynamic sector which generates approximately two million jobs in Mexico. The new decree will favor legal security on tax matters since it specifically sets forth the requirements that industry has to meet in order to be benefited by the Income Tax Law, so as not to affect competitiveness of the maquila plants (in-bond plants). The causes for canceling the program are raised again on its contents, establishing a simpler and clear procedure to prevent errors and discretionality when being applied. It contemplates as well strengthening the supervision and control capacity of the authority to keep better control of goods imported under preferential Tariffs. Simultaneously, the decrees for the Promotion and Operation of Highly Exporting Companies (ALTEX) and for Establishing Foreign Trade Enterprises (ECEX) will be repealed, preserving tax benefits previously granted. This means that once the decree becomes effective, and in order to simplify the opera- tion of companies, all schemes for promoting the export manufacturing industry will be provided for in the IMMEX decree. The new IMMEX decree will extend the length of time allowed to remain in the coun- try for goods imported by companies registered in the Inventory Control System (SECIIT Certified Companies of Item H) for up to 60 months, and for an additional 36 months for those that are certified. Likewise, at roundtables held with the Customs Regularization Central Office, of the Customs General Office, it was announced that the Fist Amendment to General Rules on Foreign Trade Matters will be published simultaneously with the new Decree, where temporality changes of certified IMMED companies will be established, as well as a 70% reduction on spontaneous regularization of temporary goods exceeding their return date. According to negotiations agreed between the Tax Administration Service (SAT) and the Economy Ministry after procedures followed by CNIMME, it is considered that the main changes that will be contained in the Decree are those listed below, but they still CI014 CONTINUE
Transcript of Publication of the new IMMEX Decree Boletin MXGA...The new IMMEX decree will extend the length of...
MONTERREY | GUADALAJARA | TIJUANA | VERACRUZ | ENSENADA | CHIHUAHUA | MAZATLAN | ZAMORA | PUERTO PEÑASCO
Av. Roble No. 300 Suite L-608Col. Valle Del CampestreGarza García, N.L., México C.P. 66220T: +52 (81) 8100.9818F: +52 (81) 8356.3300
www.mxga.mx
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Publication of the new IMMEX Decree
At the opening of the 37th National Conference of the Maquila and Export Manufactur-ing Industry, Economy Secretary Bruno Ferrari announced that the Manufacturing, Maquila, and Services Promotion Decree will be published during the first two weeks of November 2010. Said Decree will strengthen the growth of this dynamic sector which generates approximately two million jobs in Mexico.
The new decree will favor legal security on tax matters since it specifically sets forth the requirements that industry has to meet in order to be benefited by the Income Tax Law, so as not to affect competitiveness of the maquila plants (in-bond plants). The causes for canceling the program are raised again on its contents, establishing a simpler and clear procedure to prevent errors and discretionality when being applied. It contemplates as well strengthening the supervision and control capacity of the authority to keep better control of goods imported under preferential Tariffs. Simultaneously, the decrees for the Promotion and Operation of Highly Exporting Companies (ALTEX) and for Establishing Foreign Trade Enterprises (ECEX) will be repealed, preserving tax benefits previously granted.
This means that once the decree becomes effective, and in order to simplify the opera-tion of companies, all schemes for promoting the export manufacturing industry will be provided for in the IMMEX decree.
The new IMMEX decree will extend the length of time allowed to remain in the coun-try for goods imported by companies registered in the Inventory Control System (SECIIT Certified Companies of Item H) for up to 60 months, and for an additional 36 months for those that are certified.
Likewise, at roundtables held with the Customs Regularization Central Office, of the Customs General Office, it was announced that the Fist Amendment to General Rules on Foreign Trade Matters will be published simultaneously with the new Decree, where temporality changes of certified IMMED companies will be established, as well as a 70% reduction on spontaneous regularization of temporary goods exceeding their return date.
According to negotiations agreed between the Tax Administration Service (SAT) and the Economy Ministry after procedures followed by CNIMME, it is considered that the main changes that will be contained in the Decree are those listed below, but they still
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MONTERREY | GUADALAJARA | TIJUANA | VERACRUZ | ENSENADA | CHIHUAHUA | MAZATLAN | ZAMORA | PUERTO PEÑASCO
Av. Roble No. 300 Suite L-608Col. Valle Del CampestreGarza García, N.L., México C.P. 66220T: +52 (81) 8100.9818F: +52 (81) 8356.3300
www.mxga.mx
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need to be confirmed at the time of publication of the Decree in the Official Gazette:
* A new attachment on sensible goods, Annex I TER, that includes several tariff fractions of Chapter 72 (steel) of the General Import and Export Tax Law (LIGIE) is created. The temporary import term is nine months, except that under the maquila services mode only certified companies will be allowed to import these goods. * For approval of new IMMEX programs, companies should include data regarding their members and/or shareholders and their legal representative. In addition, those companies wishing to import goods contained in attachments I Bis, I Ter, II and III, should provide information about their investments and plants, machinery and equip-ment, location blueprints, pictures, and an estimated value of imports, among others. There will be a three-month trial period.
* Linked members and/or shareholders will not be able to obtain an export develop-ment program for a five-year term after an IMMEX program has been canceled.
* Established are the conditions to qualify in the definition of the maquila operation referred to by article 2, second to last paragraph, of the Income Tax Law and thus be able to apply for the benefits of article 216-Bis of said Law and related decrees (Article 33).
* Companies that have an approved IMMEX program as of January 1st, 2010, or that wish to obtain it from the effective date of said amendments should observe the following:
Machinery and equipment used in the maquila process may be:
a) Owned by the company with and IMMEX program that is going to perform the maquila process.
b) Owned by the party residing abroad with which the maquila contract has been signed.
c) Owned by a third party residing abroad and having commercial relations regarding the process to be performed in Mexico.
d) Leased from a non-related company by the company having an IMMEX program.
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MONTERREY | GUADALAJARA | TIJUANA | VERACRUZ | ENSENADA | CHIHUAHUA | MAZATLAN | ZAMORA | PUERTO PEÑASCO
Av. Roble No. 300 Suite L-608Col. Valle Del CampestreGarza García, N.L., México C.P. 66220T: +52 (81) 8100.9818F: +52 (81) 8356.3300
www.mxga.mx
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* The preceding options may be combined, provided that:
a. At least 30% of the machinery and equipment is owned by the party residing abroad with which a maquila contract has been signed.
b. If machinery and equipment has been consigned by the party residing abroad to the company in Mexico where the maquila process is to be performed, said machinery and equipment may not have been previously owned by the company having an IMMEX program or by any other company residing in Mexico that is a related party thereof.
* Article 33-Bis is created for purposes of defining maquila operation in the Value Added Tax Law and that related to submaquila.
This information may be confirmed with the publication of the Decree in the Official Gazette which is believed will be published on November 15, 2010.
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