Although importing companies require 12 months of operations with their IMMEX certification, and thus qualify not to pay VAT or IEPS, with the new amendments to the laws on foreign trade, some companies may already obtain schemes for not making the payment of said taxes, until they manage to install their production plants.This can be very helpful to small businesses, such as the dentists in Mexico or the restaurants they will be able to use that money is to grow their company more.
That the IMMEX certification scheme was established by the Ministry of Finance and Public Credit, through the SAT, and what it allows is that Companies that are certified, and obtain such authorization, do not pay VAT or the IEPS.
He mentioned that this certification scheme stipulated as a requirement to qualify, that companies had at least 12 months working with the permission of IMMEX, in case of importing “sensitive” goods.
However, with the current changes to the foreign trade law in the area of certification, the possibility is opened for some companies, even if they do not have 12 months of operations, to pay neither VAT nor IEPS, until they install their production plants in the entity.
“One of the reforms is that they can obtain certification, firstly for fixed assets and subsequently for a period of up to 6 months, if they already have the structure, they already imported the machinery and equipment, can they continue to process the raw material and then they already authorize the certification for the effects of VAT and IEPS as IMMEX companies, “he said.
One of the main benefits for the companies is that the terms are cut, because previously they had to check through the lease agreement that they had at least 12 months of operations, and now if they have 8 months it is enough for the authority.
To conclude, he stressed that although all areas of a company are important, the area of import and export is one of those that require greater training and updating schemes, as it suffers constant changes in its laws, hence it recommended professionals of this heading to be trained constantly to provide better advice to the companies where they work.