06Abr

Annual Report of Foreign Trade Operations

abril 6, 2021 Jesus Aguirre

In accordance with article 25 of the IMMEX Decree and article 8 of the PROSEC Decree, companies with an IMMEX and PROSEC program must present the Annual Report on Foreign Trade, with respect to total sales and exports (*), corresponding to the fiscal year immediately preceding fiscal, from April 1 and at the latest on the following dates:

Companies with PROSEC Program: No later than the last business day of April
Companies with IMMEX Program: No later than the last business day of May
Companies with both programs (PROSEC and IMMEX): No later than the last business day of April, since it is a single procedure for both programs.

* It must be verified that the IMMEX company complies with the obligation of the program to make annual sales abroad for a value greater than $ 500,000 USD, or its equivalent in national currency, or invoice exports, for at least 10% of its invoicing total.

Consequences in case of not presenting on time:

PROSEC:

If the annual report is not presented on the established date, the Program will be suspended until the omission is corrected.

If the report is not submitted by the last business day of June of the current year, the program will be canceled as of July 1, 2021.

IMMEX:

If the annual report is not presented on the established date, the Program will be suspended until the omission is corrected. It may be submitted until the last business day of August of the current year. During the suspension period of the IMMEX Program, the company will not be able to temporarily import merchandise or enjoy the other benefits of the Program.

In case of not presented on the established date the report, the IMMEX program will be definitively canceled as of September 1 of the current year. Derived from it, the company will have 60 calendar days to change the regime of temporary goods to definitive import or return them abroad.

Information needed for the presentation:

The Annual Report is presented through VUCEM, and the total sales for the year 2020 and the total commercial value exported in 2020 must be declared. If with the information presented the system verifies that the export commitments are not fulfilled, a start of the cancellation procedure for the IMMEX Program.

To present the report correctly, it is recommended to have the following information and documentation, among others:

Data Stage for fiscal year 2020
Annual Declaration for fiscal year 2020
Invoicing to assemblers and CTMS received.

You have doubts? At Mexcentrix we have experts in the area of Foreign Trade to advise you. Avoid the suspension and / or cancellation of your IMMEX program, and get advice from the experts.

30Mar

Wise Harness Solutions Expands into Emplame, Sonora, Mexico

marzo 30, 2021 Jesus Aguirre

Since 1970, Weston, Wisconsin-based Wise Harness Solutions has assembled wire harnesses, battery cables and control panel assemblies to support its customers’ wire harness needs. The company prioritizes offering high-quality products, delivered on-time, at an excellent value and sees its expansion into Mexico as one more way to deliver upon this promise.

The decision to expand into Mexico came as Wise Harness Solutions executives sought a solution to the ongoing labor shortage plaguing manufacturers across the U.S. The company had found itself struggling to grow its Wisconsin workforce to support the demand from its customers. With more of its competitors moving into Mexico, the company recognized that the lack of a Mexican presence, combined with this workforce shortage, would make it more difficult to provide the highest quality products, on-time delivery, at the competitive price its customers expected.

Michaud adds, “We selected Empalme as the location for our new facility due to its proximity to the U.S. and the availability of an experienced workforce.” Empalme is a mere four-hour drive to the U.S. border. However, it’s location along the sea of Cortez, the second largest port on the Pacific Coast, provides manufacturers with additional options for cost-effectively reaching global customers in a timely manner.

The 25,000-square-foot facility will begin producing complex OEM vehicle wire harnesses, battery cables and control panels by early April 2021. Wise Harness executives expect that the additional capacity this facility affords will help the company to bid on more projects, allowing for additional expansion in product offerings over the next few years.

press_release_distribution_0480344_163010

Source: CISION PR Newswire

( https://www.prnewswire.com/news-releases/wise-harness-solutions-expands-into-emplame-sonora-mexico-301254507.html)

29Mar

Maquiladoras in Mexico

marzo 29, 2021 Jesus Aguirre

For many years, manufacturing companies have sought to increase the efficiency of their production operations and reduce costs, leading them to establish manufacturing plants in countries other than their places of origin. This has led to an increase in foreign investment and to the origin one of the main industries in the country: the maquiladoras in Mexico.

The maquiladora program was established since 1964 in order to attract foreign investment and combat unemployment in the U.S and Mexico border.

In addition, in 1994 with the signature of NAFTA (North American Free Trade Agreement) which has been ratified and today we know was USMCA (United States- Mexico – Canad Agreement), boosted during the late 90´s the number of maquila plants especially in the border of Mexico and United States.

What are Maquiladoras?

A maquiladora is a manufacturing operation in Mexico which is run by a foreign company and exports goods to other countries.

Maquiladoras import raw materials, components and machinery to process or assemble them in Mexico and then export back the finished manufactured goods. The main advantage of the maquiladoras is that the raw materials, components and equipment for production purposes can enter the Mexico under a duty-free and tax benefit structure.

In 2006 the maquiladora program was transformed and the IMMEX Program was established. The IMMEX Program which is the acronym for Manufacturing Industry, Maquiladora and Export Services, encourages manufacturers to export goods and strengthen Mexican exports.

As of February 2021, according to the National Foreign Trade Information Service of the Ministry of Economy (SNICE), for its acronym in Spanish, there are 6,003 IMMEX Programs in Mexico.

Learn more about the details of the IMMEX Program here.

Benefits of Setting up a Maquiladora in Mexico:

Tax benefits:

Temporary import of raw materials, components, machinery and equipment among others without paying VAT and countervailing duties and deferring or not paying General Import Tax.

Free Trade Agreements:

Furthermore, Mexico counts with 13 Free Trade Agreements with 50 countries, leading to a reduction of trade barriers and allowing foreign companies to import some raw materials and products free of duties. Additionally, these FTA’s provide Mexico with access to around 60% of the world’s GDP.

Cost Savings:

Maquiladoras in Mexico, can benefit from having highly qualified and trained workforce at competitive labor costs.

In addition, if the finished good will be sold to United States, it offers important logistics costs savings due to cheaper shipping costs and shorter overall times for shipping, which also lead to faster delivery.

Location and Product Flexibility:

A maquiladora can be established anywhere in the country, and still benefit from the tax savings advantages.

Furthermore, foreign companies that establish maquiladoras in Mexico have no limit on the types of items that can be manufactured (with the exception of firearms), as long as the manufactured finished good is exported.

Fast and easy start-up through a shelter company:

Establishing a maquiladora in Mexico is easier when partnering with a shelter service provider in Mexico. As the shelter company can be the legal entity in Mexico, or can provide service through a new legal entity, while offering a faster and easier start-up due to their experience and know-how on local practices and regulations. In addition to taking care of all administrative matters which the company on and allowing the foreign company to focus on what they do best (production, quality, materials).

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How to establish a Maquiladora through a shelter company?

Hiring a shelter service provider for establishing a maquiladora in Mexico, can facilitate the complete process and is often the easiest way to maximize the benefits that the maquiladora program offers.

Mexcentrix can lead and support you in the complete process for establishing manufacturing operations in Mexico. Our shelter service offers full administrative and operational support including, among others:

Human resources
Payroll and benefits administration
Tax and accounting
Foreign trade and customs
Management IMMEX Program

Through our shelter program, our clients can focus on what they do best (production, quality, materials) and let us do what we do best.

Furthermore, through Mexcentrix services, we ensure 100% compliance with Mexican law and regulations, and our clients can avoid unnecessary problems and costly mistakes. In addition, we offer ongoing consulting to keep our clients updated about any changes in applicable laws and regulations.

For additional information regarding our services or if you need a cost model for your operations in Mexico, contact us.

26Mar

Exports, stimulus throw lifeline to Mexico’s battered economy

marzo 26, 2021 Jesus Aguirre

In an arid valley in central Mexico, one of the world’s largest automotive suppliers is preparing to open a new plant to produce components for North America, underpinning the export business that has kept the country’s struggling economy ticking over.

The new Continental AG plant in Aguascalientes state should benefit from the new United States-Mexico-Canada (USMCA) trade deal and U.S. President Joe Biden’s $1.9 trillion stimulus plan to revive growth after the coronavirus pandemic.

The confidence expressed by local executives of the German parts maker echoes growing optimism among analysts that a global recovery will lift Mexico’s economy more than previously expected, despite ongoing weakness in domestic demand.

“We’ve got high (auto) output coming, high volumes for everyone, and that’s what we’re getting ready for,” said Ina Seterbakken, the manager of plant still under construction.

Continental expects business to revive after delays caused by pandemic-related disruptions, Seterbakken said, noting the facility was a strategic bet given Mexico’s proximity to the United States, the world’s biggest economy.

The new plant, which will employ about 1,000 people, joins a thick belt of automotive factories clustered in central Mexico, whirring with machinery focused chiefly on satisfying export demand that the market access of USMCA provides.

“If (USMCA) hadn’t been agreed, it would have really changed this country’s economy,” said Gustavo Puente, economy minister in the central state of San Luis Potosi, which recently unveiled a separate 60 million euro Continental investment.

Mexico’s economy last year suffered its worst slump since the 1930s, with gross domestic product (GDP) shrinking by 8.5%. Robust foreign demand ensured the outcome was not worse.

President Andres Manuel Lopez Obrador has resisted calls to splash out to prop up the economy, arguing that bailouts and deficit spending tend to line the pockets of the rich.

But his country has benefited from stimulus spending in wealthier countries, especially the United States, which soaks up around 80% of all Mexico’s goods exports.

The automotive industry forms the core of manufacturing output, which makes up almost a fifth of Mexico’s economy.

Buoyed by the prospect of a revival north of the border, Mexico’s government is revising up its 2021 growth forecast to 5.0-5.5%, and Finance Minister Arturo Herrera said the U.S. stimulus plan was “very important” to the country.

Private sector analysts are doing the same, with JPMorgan recently raising its 2021 estimate for the second time this year to 5.6%.

“If it weren’t for such a strong program in the United States this year, Mexico might be growing 2.5% or 3%,” said Gabriel Lozano, the U.S. bank’s chief economist for Mexico.

COMMERCIAL EDGE

Mexico has committed funds worth about 1.3% of GDP to reviving its economy, according to International Monetary Fund (IMF) calculations. In Brazil, by contrast, it is 6.2%.

Yet despite that, Mexico’s economy is expected to grow by 4.3% this year versus 3.6% for Brazil, the IMF estimates.

Export exposure is one reason.

Worth some $360 billion before the pandemic, according to U.S. official data, Mexican annual exports to the United States are equivalent to about a third of GDP. Brazil’s U.S. exports were worth under $31 billion in 2019.

The difference between Latin America’s two biggest economies also shows up in financial markets: while the Mexican stock exchange has gained 4.9% so far in 2020, the Brazilian exchange has lost 8.2%, when measured in dollars.

Nevertheless, some analysts and bosses in Mexico have their doubts. They note that appetite for manufactured goods abroad contrasts with flagging domestic demand, with Mexican fixed capital investment plummeting more than 18% last year.

How well Mexico recovers will depend in part on the government’s ability to overcome tensions with business and encourage investment in manufacturing, which could profit from a drive to regionalize supply chains away from Asia under USMCA.

Drawn to lower-cost Mexico to get a competitive edge, companies are watching nervously to see if the government’s moves to strengthen state control of the electricity market will affect energy-intensive sectors like carmaking.

“(The electricity sector) is decisive for the Mexican economy to grow steadily, but for this, the state must guarantee the principles of free competition and legal certainty,” the American Chamber of Commerce (AmCham) in Mexico said last month.

Source: REUTERS

( https://www.reuters.com/article/us-mexico-economy-analysis-idUSKBN2BB2BO )

18Mar

Honda temporarily cutting production at all U.S., Canada plants

marzo 18, 2021 Jesus Aguirre

Honda Motor Co said late Tuesday supply chain issues will force a halt to production at a majority of U.S. and Canadian auto plants for a week.

The Japanese automaker added the issue will result in some production cuts next week at all U.S. and Canadian plants, citing “the impact from COVID-19, congestion at various ports, the microchip shortage and severe winter weather over the past several weeks.”

“In some way, all of our auto plants in the U.S. and Canada will be impacted,” Honda said.

Some U.S. and Canadian plants are expected to have smaller production cuts next week, but a spokesman for Honda added “the timing and length of production adjustments could change.”

The company declined to specify the volume of vehicles impacted but said “purchasing and production teams are working to limit the impact of this situation.”

The company added when production is suspended Honda workers “will continue to have the opportunity to work at the impacted plants.” Honda workers were notified of the production cuts Monday.

Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions, said Honda typically produces about 30,000 vehicles a week in the United States and Canada.

The production issues are hitting Honda plants in Ontario, Ohio, Alabama, and Indiana. Honda said its Mexico operations have not announced any production cuts.

The chip shortage, which has hit most of the global automakers, stems from a confluence of factors as carmakers, which shut plants for two months during the COVID-19 pandemic last year, compete with the sprawling consumer electronics industry for chip supplies.

General Motors Co has cut production at many plants and warned it could shave up to $2 billion from this year’s earnings.

GM’s U.S. rival Ford Motor Co previously said the shortage could hurt 2021 profit by up to $2.5 billion and said it had curtailed production of its flagship F-150 pickup.

Source: REUTERS

(https://www.reuters.com/article/idUSKBN2B9042 )

18Mar

Foxconn says may make EVs in Wisconsin or Mexico

marzo 18, 2021 Jesus Aguirre

The chairman of top Apple Inc supplier Foxconn said on Tuesday that its plant in the U.S. state of Wisconsin was a potential site to make electric vehicles, but added that Mexico was another possible site.

Asked by reporters in Taipei whether the company would produce a car with Apple, Chairman Liu Young-way said that was speculation.

Taiwan-based Foxconn, formally called Hon Hai Precision Industry Co Ltd, is the world’s largest contract electronics manufacturer.

Source: REUTERS

( https://www.reuters.com/article/idUSB9N2IW026 )

17Mar

Advantages of Manufacturing in San Luis Potosi

marzo 17, 2021 Jesus Aguirre

The manufacturing industry is the main economic activity in the State of San Luis Potosi.

There are several advantages of manufacturing in San Luis Potosi. Therefore, the manufacturing industry in San Luis Potosi, is extremely important and represents approximately 25% of its Gross Domestic Product (GDP). For instance, San Luis Potosi counts with a total of 9,962 manufacturing companies.

Furthermore, San Luis Potosí ranks in fifth place of the ten world cities with less than two million inhabitants that show the greatest economic potential, according to the ranking Global Cities of the Future published by the Financial Times magazine. Likewise, the capital of San Luis Potosí, ranks ninth among cities for the highest business profitability.

Moreover, San Luis Potosí occupies second place within Mexico, in terms of the specialization of the states in the automotive industry due to its added value of 39.4%, according to the Government of the State of San Luis Potosí. The manufacturing sectors with the highest participation in the state are transportation equipment (automobiles and auto parts), industrial machinery and equipment, electric appliances and electrical power generation equipment.

Why is San Luis Potosi one of the main manufacturing States in Mexico?

San Luis Potosi is an attractive state among the manufacturing industry, due to its competitive and highly skilled labor force, its privileged geographical location, and its existing clusters such as the automotive, logistics and medical cluster, which as a result you can find numerous suppliers from these industries in the State. In addition to its extensive number of highly developed industrial park, among other advantages San Luis Potosi offers for manufacturing companies.

Some of the main advantages that make San Luis Potosí an attractive state for companies looking to establish manufacturing operations in Mexico are listed below:

Privileged geographical location

San Luis Potosí is located in the center of Mexico, having access in a range of 2 to 7 hours by land, to the main cities and ports of the country, as well as the EE.UU border. Certainly, due to its strategic location, companies have access to a concentrated supply chain, in a 300 km radius there is access to more than 850 automotive suppliers and 9 assembly plants.

Supply Chain

San Luis Potosi, counts with a fast growing automotive supply chain. The establishment of two OEM Plants (BMW and GM) which together employ more than 3,300 employees, led to strengthening the local automotive cluster, leading to more than 200 companies from the automotive industry in the State.

In addition, the State counts with a strategic tax scheme (Recinto Fiscalizado Estrategico), which provides a competitive advantage due to time saving in the supply chain of companies.

Labor Force

The state has a population of 2.8 million, with approximately 1.2 economically active individuals. Of these, approximately 20% are employed working in manufacturing industries.

San Luis Potosí has international educational institutions, universities, and technological institutes with programs focused on the needs of the industry, including dual programs. According to the Secretary of Public Education (SEP), from 2016 to 2019 there were more than 54,000 graduates from universities or technical institutes of which more than 30% of these are professionals in engineering and telecommunications careers.

Furthermore, the state counts with training centers, and centers for research, innovation and technological development in this area.

In addition to highly skilled labor force, San Luis Potosi counts with competitive labor costs.

Infrastructure

The state has the largest intermodal terminal in Mexico (RFZ) where approximate 20,000 loading and unloading maneuvers are carried out monthly.

Manufacturing companies in San Luis Potosi

Furthermore, San Luis Potosi counts with more than 20 industrial parks. The availability of highly developed industrial parks reflect the opportunities for new investments, and facilitates companies to transfer their products to other states and worldwide.

Due to the manufacturing advantages San Luis Potosi offers, several foreign companies have decided to establish manufacturing operations within the State.

Despite of the difficult economic situation that the world and all states in Mexico are going through, San Luis Potosi was one of the top 5 states with greater foreign direct investment (FDI) in the first semester of 2020, reaching a total of $880.20 million dollars, according to Lider Empresarial.

Are you thinking of establishing manufacturing operations in San Luis Potosí?

Mexcentrix can help you, our headquarters are established in San Luis Potosí. We count with over 20 years of experience providing strategic guidance for low risk manufacturing in Mexico. We assure your company a successful and timely start of operations in Mexico.

The business services we offer are, among others:

Our services are 100% guaranteed, we are committed to the high quality service that our clients deserve, and we count with the know-how, experience and infrastructure to make it happen.

Start your Mexico manufacturing operation successfully, with help from the experts.

Contact us

04Mar

Advantages of Manufacturing in Mexico in 2021

marzo 4, 2021 Jesus Aguirre

Mexico presents advantages for manufacturing companies in 2021

Last year (2020) was a tough one for all industries, including the manufacturing industry, as they had to lead with a significant reduction in income and sales and which led to many changes and need to adapt. Among the top industries affected are the automotive and aerospace industry, and service industries such as restaurants, hotels, etc.. Nevertheless, 2021 is a more hopeful year for most industries, including manufacturing.

The opportunities for the manufacturing industry in Mexico for this year

The pandemic challenged all industries, but it also presented an opportunity to analyze costs, ways of improvement, and to overcome changes. Which has led companies to search for alternatives, make better use of their resources and cut costs.

In which Mexico through its high skilled labor and competitive labor costs can play an important role.

Furthermore, the US and China trade conflict is still ongoing, as even though after several negotiations and that U.S. – China phase 1 trade deal was signed on January 13^th, it cut some U.S tariffs on Chinese goods in exchange of China agreement to expand purchases of certain US good and services and address some U.S objections on intellectual property practices. But still, some of the imposed tariffs remain unchanged.

Therefore, additionally to the abovementioned, the challenges caused by Covid-19, the increased labor costs in China and the rising tensions in the South China Sea, have raised concerns about manufacturing goods in China and shipping halfway around the world, leading some companies to reconsider where to set up operational manufacturing facilities, and to look for other options including onshoring or nearshoring.

In addition to the fact that the current travel restrictions between U.S. and China due to pandemic have complicated the situation.

Mexico plays an important role in this field, as in 2019 and 2020, Mexico overcame China to become U.S. number one trading partner, and many foreign manufacturing companies have decided to invest in Mexico and establish manufacturing operations in the last years.

Companies have been considering establishing manufacturing operations in Mexico due to the different advantages it offers such as:

Competitive labor costs
Highly skilled labor force
Proximity to US, which due to a similar time zone facilitate communication and travel and which leads to lower shipping costs.
13 Free trade Agreements with 50 countries
Foreign Trade and Tax Incentive Programs, such as the IMMEX Maquiladora Program.

The above-mentioned are some of the advantages Mexico has been offering for manufacturing companies in the last years and which will remain in 2021. These are some of the benefits that had led manufacturing in Mexico to rise in popularity in the last 2 decades.

Start Manufacturing Operations in Mexico in 2021

Are you looking to capitalize on the advantages of manufacturing in Mexico in 2021?

If you are looking to take advantage of the benefits Mexico offer for manufacturing companies, Mexcentrix can lead and support you in the complete process for establishing manufacturing operations in Mexico. Our shelter service offers full administrative and operational support including human resources, payroll, tax and accounting, foreign trade, customs, management IMMEX Program among others. Through our shelter program, our clients can focus on what they do best (production, quality, materials) and let us do what we do best.

Through Mexcentrix services, we ensure 100% compliance with Mexican law and regulations, and our clients can avoid unnecessary problems and costly mistakes. In addition, we offer ongoing consulting to keep our clients updated about any changes in applicable laws and regulations.

Furthermore, our specialized and highly qualified teams have helped our clients during these difficult times due to the pandemic, to implement measures designed to decrease the impact of the economic crisis in their operations and to be able to adapt in the most effective way.

For additional information regarding our services or if you need a cost model for your operations in Mexico, contact us.

Mexcentrix will support your company for a smooth start and running of operations in Mexico.

02Mar

Germany’s Continental to invest 60 million euros in central Mexico

marzo 2, 2021 Jesus Aguirre

German automotive parts maker Continental AG said on Monday it will invest around 60 million euros ($72 million) in expanding a plant in the central Mexican state of San Luis Potosi.

In a statement, the company said it would manufacture brake parts in the 20,000 square meters of new production space. ($1 = 0.8304 euros)

“The decision to locate the manufacturing of these high-tech components at the San Luis Potosi plant is a strong sign of Continental’s confidence in Mexico and especially in the region,” plant manager Victor Hernandez said.

The expansion of the plant, which is scheduled for completion in October 2022, is welcome news for Mexican President Andres Manuel Lopez Obrador, whose unorthodox economic policies have spooked investors.

It also comes as Mexico’s economy recovers from its worst recession last year in almost 90 years and Lopez Obrador hopes the new United States-Mexico-Canada Agreement (USMCA) trade deal spurs new investments and jobs.

Continental said the expansion would create some 350 new jobs over the next three years, on top of the 650 people already employed at the San Luis Potosi plant. (Reporting by Abraham Gonzalez in Mexico City Writing by Laura Gottesdiener and Anthony Esposito Editing by Matthew Lewis)

Source: REUTERS

( https://www.reuters.com/article/mexico-continental/update-1-germanys-continental-to-invest-60-million-euros-in-central-mexico-idINL2N2KZ2GT )

26Feb

Entry into Force of the Declaration of Decrementables

febrero 26, 2021 Jesus Aguirre

FOREIGN TRADE NEWSLETTER

On October 26 of 2020, the Second Resolution of Modifications to the General Rules of Foreign Trade was published in the Official Journal of the Federation (DOF), in which among the most important changes, the declaration of the “Decrementable” concepts is highlighted. .

According to bulletins 17 and 21 dated September 4 and October 12 of 2020, respectively, where the modifications to the VOCE-SAAI M3 Technical Registry Guidelines were reported. The pediment format is modified to add 5 fields for the following:

Decrementable transport
Decrementable insurance
Load
Download
Other decrementables

The previously mentioned, came into force on February 26, 2021. Establishing that it is mandatory the declaration of the amounts by way of decrementables.

Decrementables
The decrementables, also known as non-incremental adjustments or negative adjustments, are regulated in Article 66 of the Customs Law, and refer to the concepts that should not be part of the transaction value, that is, of the customs value.

They will be considered decrementable as long as they are itemized or specified separately from the price paid in the digital tax receipt or equivalent document.

Article 66 of the Customs Law establishes that the transaction value of imported goods will not include the following concepts, provided that they are broken down or specified separately from the price paid:

The expenses incurred by the importer on his own account, even when it can be estimated that they benefit the seller.
The following expenses, provided they are distinguished from the price paid for the imported goods:
- Construction, installation, assembly, assembly, maintenance or technical assistance expenses incurred after importation in relation to imported goods.
- Transportation, insurance and related expenses such as handling, loading and unloading incurred as a result of the transportation of the goods
- The contributions and countervailing duties applicable in the national territory, as a consequence of the importation or sale of the merchandise.
Payments from the importer to the seller for dividends and those other concepts that are not directly related to the imported goods.

The fields that were added to the request form are the following:

Concept

Description

24. Decrementable transport

Registry M3

Field 31

Total amount of expenses paid for the transport of the merchandise, incurred.

25.Decrementable insurance

Registry M3

Field 32

Amount of the total insurance premiums paid for the merchandise.

* This field must be filled in the case of complementary pediments, internal transits to import or international transits made by rail, in which case, printing the name of this field is optional.

26.Load

Registry M3

Field 33

The total amount of the expense paid for the loading of the merchandise, after the assumptions referred to in article 56, section I of the Law.

27.Download

Registry M3

Field 34

Total amount of the expense paid for the unloading of the merchandise, after the assumptions referred to in article 56, section I of the Law.

28. Other decrementables

Registry M3

Field 35

Amount in national currency of the total amounts corresponding to the items that must be decreased at the price paid, (field 14 of this block), in accordance with the provisions of article 66 of the Law.

* This field should not be filled in when it comes to complementary requests, internal import transits or international transits carried out by rail, in which case, printing the name of this field is optional.

Infractions and Penalties

In accordance with Annex 19 of the General Rules of Commerce Exteior, related fields are multables decrementables fields, according to the following article:

Article 184 section III and article 185 section II of the Customs law: The incorrect transmission or presentation of reports or documents with inaccurate or false data or omitting any data, will be sanctioned with a fine of $ 2,010.00 to $ 2,860.00, for each document.

We hope that this information is useful to you. Any questions or comments in this regard please contact us.

What are Maquiladoras?

Benefits of Setting up a Maquiladora in Mexico:

Tax benefits:

Free Trade Agreements:

Cost Savings:

Location and Product Flexibility:

Fast and easy start-up through a shelter company:

How to establish a Maquiladora through a shelter company?

Through our shelter program, our clients can focus on what they do best (production, quality, materials) and let us do what we do best.

COMMERCIAL EDGE

The manufacturing industry is the main economic activity in the State of San Luis Potosi.

Why is San Luis Potosi one of the main manufacturing States in Mexico?

Some of the main advantages that make San Luis Potosí an attractive state for companies looking to establish manufacturing operations in Mexico are listed below:

Privileged geographical location

Supply Chain

Labor Force

Infrastructure

Due to the manufacturing advantages San Luis Potosi offers, several foreign companies have decided to establish manufacturing operations within the State.

Are you thinking of establishing manufacturing operations in San Luis Potosí?

Start your Mexico manufacturing operation successfully, with help from the experts.

Mexico presents advantages for manufacturing companies in 2021

The opportunities for the manufacturing industry in Mexico for this year

Companies have been considering establishing manufacturing operations in Mexico due to the different advantages it offers such as:

Are you looking to capitalize on the advantages of manufacturing in Mexico in 2021?

Mexcentrix will support your company for a smooth start and running of operations in Mexico.

FOREIGN TRADE NEWSLETTER