Recently, the Ministry of Economy of the Government of Mexico made the new one public Law of General Import and Export Taxes.
This law has the purpose of rethinking and modernizing the current regulations and adapting them to current international trade flows, all with the aim of streamlining processes and making them more effective.
Likewise, this new law on exports and imports lies in incorporating more agile methods that allow the publication of statistical numbers of tariff fractions, since in this way, it is possible to implement a much more precise identification of goods, optimizing operations and streamlining the flow. of trade
As a consequence, this law seeks to optimize coding processes in international trade, providing greater benefits to exporters and customs authorities, as it facilitates the monitoring and allocation of goods.
Main criteria of the law
Taking into account what was agreed, the law establishes that new taxes will be incorporated for some products with a high social and environmental impact, among which we can highlight the following:
- Edible non-living insects
- Fish byproducts
- Crustaceans and mollusks for human consumption
- Chemicals for the creation of psychotropics
- Rapid tests for the detection of some viruses
- Wood
- 3d printers
- Multipurpose drones
- Smartphones
- Technological garbage
- Gases that contribute to global warming, among others In addition to the above, tariff section 8543.40.01 of this key determines that electronic cigarettes and electronic vaporization devices cannot be exported or imported.
Validity of the law
The recent decree will come into force 10 business days after the SAT determines that the processes and systems implemented in foreign trade are ready to operate in accordance with the law that is issued, which must occur within 180 days following its publication.
