On December 27, 2024, an amendment and supplement to the Tax Code of Mexico City was published in the Official Journal of Mexico City establishing i) an increase in the payroll tax rate (“ISN”) from 3% to 4% on the total amount of expenditures made for payments to subordinate personnel and ii) a new ecological
Mexico Establishes Temporary Increase in Textile Tariffs and Temporary Importation Prohibited by IMMEX Program
On December 19, 2024, the Mexican government published in the Official Journal of the Federation the “Decree modifying the tariff of the General Import and Export Tax Law and the Decree for the Promotion of the Manufacturing, Maquiladora and Export Services Industry.” (the “Decree”)
On the Decree, the Mexican government temporarily modified, until April 23
Important Changes to Mexico’s General International Trade Rules Governing the Company Certification Program
On October 14, 2024, the Second Resolution of Amendments to the General International Trade Rules for 2024 (the “Rules”) was published in the Official Journal of the Federation.
Below is a brief summary of the most relevant changes to the aforementioned Rules, particularly with regard to Registration in the Company Certification Program:
• A new
Important Amendments to Annex 24 of Mexico’s General Rules for International Trade (Inventory Control System for the Business Certification Program)
On October 15, 2024, the Second Resolution of Amendments to the General Rules of International Trade for 2024 and Annexes 1, 2, 5 and 24 was published in the Official Journal of the Federation, through which important changes were made to the Company Certification Program (Esquema de Certificación de Empresas).
Aside from opining
Mexico Amends the “Decree Establishing Several Sectorial Promotion Programs”(Prosec Decree)
An amendment to the PROSEC Decree was published in the Official Journal of the Federation on August 26, 2024, and entered into force on August 27, 2024.
The PROSEC is a program designed for companies that produce specific merchandise. It allows them to import various goods to deliver products with preferential general import duties.
In
Mexico’s Taxpayer Ombudsman Announces Important Changes to Filing Procedures
The Mexican Taxpayer Ombudsman agency (“PRODECON” by its acronym in Spanish) has notified taxpayers that, to streamline and expedite the filing of Final Agreements and Complaints, as of September 1st, 2024, the only methods for filing of such Final Agreements and Complaints will be through the new Electronic System for the Receipt of
New General Agreement to regulate the permanent International Cargo Transportation Permit for United States of America and Canada carriers in Mexico (the “Agreement”), issued by the Department of Infrastructure, Communications and Transport (“SICT” for its Spanish acronym).
On July 31, 2024, the Agreement was published in the Federal Official Gazette and will be in effect the next day.
The purpose of this Agreement is to substitute the original Agreement published in the Federal Official Gazette on July 7, 2011.
In general, the new Agreement is very similar to its prior counterpart. As
Yucatan Grants New Tax Benefits for Investments in Industrial Zones
On June 28, 2024, the “Decree to promote investment in the industrial zones of Progreso I and Mérida I in Yucatan, Mexico” (the “Decree”) was published in the Official Journal of the Federation. Such Decree grants certain tax benefits and administrative assistance for taxpayers that carry out productive economic activities in the electrical and electronics
Simplified Requirements for the Temporary Importation of Sugar under Mexico’s IMMEX Program
On April 5, 2024 the “Decree publishing the requirements to temporarily import goods included in Annex II of the Decree for the Promotion of the Manufacturing, Maquiladora and Export Services Industry” (the “Decree”) was published in the Official Journal of the Federation, which entered into force on April 8, 2024, and will remain valid through August 31, 2024.
New Decree Granting Tax Incentives to Promote Investment in Mexico
On October 11, 2023, the “Decree granting tax incentives to key sectors of the export industry consisting of the immediate deduction of the investment in new fixed assets and the additional deduction of training expenses” was published in the Official Gazette of the Federation. The Decree entered into force as of its publication, with the