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Preparing companies for increase of customs audits and inspections Mexico (Video Chat)

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In recent years, we have seen a significant increase in Custom Audits by both Federal and State Tax Authorities, mainly to companies with foreign investment. We have seen Maquiladoras/IMMEX that were audited and received tax assessments in high amounts, including one for USD 70 million and one for USD 172 million dollars. What is the reason for these outstanding amounts and how can Maquiladora/IMMEX companies prevent these tax contingencies derived from these foreign trade audits?

In this Quick Chat video, our Trade and Customs lawyers discuss what to expect from a customs audits, the consequences including financial liability and the preventive measures Mexican companies must take.

**Click on the image below to watch the video chat**

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Author

Adriana Ibarra Fernandez is currently a partner in Baker McKenzie's Foreign Trade and Customs Practice Group in Mexico City. Ms. Ibarra Fernandez focuses her practice on customs and international trade matters, including rules of origin, verifications of origin and related subjects in terms of the FTAs to which Mexico is a party, tariff classification, customs valuation, maquila (IMMEX), and other programs for the promotion of imports and exports, as well as non-tariff import regulations. She also advises clients in the pharmaceutical sector on regulatory matters, and has experience in handling compliance and anti-corruption matters.

Author

Jorge Ambriz Cuevas is a partner in Baker McKenzie’s Foreign Trade and Customs Practice Group in Juarez. Prior to joining the Firm, he was an associate and later an acting director in the trade and customs group of a prominent law firm in Mexico. He was also a manager and later senior manager in a Big Four accounting firm’s trade and customs practice. Jorge has also served as director of foreign trade and customs audit in the headquarters of Mexico’s Internal Revenue Service, and worked in the Ministry of Economy’s Trade Department.

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