This program offers a series of benefits to companies that use it, such as the possibility of deferring the payment of the general import tax, value added tax and, if applicable, countervailing duties.
The Manufacturing, Maquiladora and Export Services Industry Program (IMMEX) is an export promotion instrument that allows importing companies to temporarily defer payment of the General Import Tax, Value Added Tax and, if applicable, countervailing duties. The program was created in 1983 to promote foreign investment in Mexico and the development of the manufacturing industry.
The background of the IMMEX program dates back to the 1960s, when Mexico began to experience accelerated export growth. In that context, the Mexican government decided to implement a series of measures to promote foreign investment and the development of the manufacturing industry.
In 1965, the Temporary Import Program for the Production of Export Articles (PITEX) was created, which allowed importing companies to temporarily defer the payment of the General Import Tax, as long as the imported goods were used for the production of export products.
In 1972, the Program for the Promotion and Operation of the Maquiladora Export Industry (IMMEX) was created, which expanded the benefits of the PITEX to companies importing goods for transformation or repair.
In 1983, the two programs were integrated into a single program, the IMMEX Program, which is still in effect today.
The objectives of the IMMEX Program are as follows:
PROMOTE FOREIGN INVESTMENT IN MEXICO .
TO DEVELOP TH MEXICAN MANUFACTURING INDUSTRY.
TO CREATE JOBS AND FOREIGN EXCHANGE FOR THE COUNTRY.
The program is aimed at legal entities resident in Mexican territory and/or export service providers that meet the following requirements:
GENERAL REQUIREMENTS SPECIFIC REQUIREMENTS
For production companies: | For companies providing services: |
To be a legal entity legally constituted in Mexico. | To have adequate facilities and equipment for the production of export goods. |
To have a corporate purpose that includes the production or provision of export services. | To have qualified personnel for the production of export goods. |
To comply with the requirements established in the Rules and General Criteria on Foreign Trade Matters. | |
The benefits of the IMMEX program include.
Defer payment of taxes: The IMMEX program allows companies to defer payment of general import tax, value added tax and, if applicable, countervailing duties. This can represent a significant savings for companies, since they can obtain the goods they need for their production without having to pay the taxes immediately.
Flexibility in production processes: The IMMEX program allows companies to carry out a wide range of production processes, from the manufacture of finished products to the repair of goods. This gives companies greater flexibility in their production processes and allows them to adapt to market needs.
Export opportunities: The IMMEX program is designed to encourage exports. Companies using the program are required to export 100% of the products they manufacture or repair. This gives companies the opportunity to access new markets and generate higher revenues.
Requirements to obtain the IMMEX program.
To obtain the IMMEX program, companies must comply with the following requirements:
Be a legal entity resident in Mexico: companies participating in the IMMEX program must be legal entities resident in Mexico.
Be legally incorporated: Companies must be legally incorporated in Mexico.
Comply with the infrastructure requirements: Companies must have the adequate infrastructure to carry out the production processes to be performed under the IMMEX program.
Comply with safety requirements: Companies must comply with the safety requirements established by the Mexican authorities.
Process to obtain the IMMEX program:
The process to obtain the IMMEX program is as follows:
01.
The company must file an application with the Ministry of Economy (SE).
02.
03.
The IMMEX program is an important tool for companies exporting from Mexico. It offers a number of benefits that can help companies reduce costs, improve their flexibility and increase their export opportunities.
Some tips for companies wishing to obtain the IMMEX program:
Consult with a legal or tax advisor: A legal or tax advisor can help you understand the requirements of the IMMEX program and prepare the application.
Gather all necessary documentation: The SE requires a number of documents to evaluate the application. Be sure to gather all the necessary documentation before submitting the application.
Submit the application on time: The SE has 30 working days to evaluate the application. Be sure to submit the application on time to avoid delays.
According to the Manufacturing, Maquiladora and Export Services Industry (IMMEX) Program Statistics, published by the National Institute of Statistics and Geography (INEGI), imports made in Mexico under the IMMEX program reached a value of $1.33 billion dollars in 2022. This represents an increase of 11.2% with respect to 2021.
In terms of volume, imports made in Mexico within the IMMEX program totaled 1.01 billion tons in 2022. This represents an increase of 10.4% with respect to 2021.
The main categories of goods imported into Mexico within the IMMEX program in 2022 were:
Electronics and computer equipment: $467 billion dollars. |
Auto parts: $325,000 million dollars. |
Machinery and equipment: $227,000 million dollars |
Chemicals: $123 billion dollars |
Paper and paperboard: $105 billion dollars |
The main countries of origin of imports made in Mexico under the IMMEX program in 2022 were:
The IMMEX Program was created with the objective of promoting foreign investment, the development of the manufacturing industry and the creation of jobs in Mexico.
This program is an important instrument for promoting Mexican exports. Imports into Mexico under the IMMEX program contribute to the competitiveness of Mexican companies by giving them access to inputs and raw materials at competitive prices.
Integra One Solution specializes in consulting and management of IMMEX Programs, with more than 15 years of experience in the market. We have a team of highly qualified professionals that will provide you with the necessary advice and support to successfully obtain your IMMEX Program.
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