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?…
Baker McKenzie’s Global Compliance News Blog published “Global: 2022: International Trade Developments in a Challenging New World,” which can be viewed here.
In brief On 24 July 2020, the First Resolution of Amendments to the Foreign Trade General Rules for 2020 (Resolution) was published in the Federal Official Gazette. In addition to the modifications we discuss in this article, the Resolution includes Annex 1 of such rules (referred to as foreign trade formats and models). It is noteworthy that the Ministry of Finance and Public Credit did not issue an advance version of the Resolution, which (with…