IMMEX Program and Free Trade Agreements
Product ID : LISA-0005
Level : Intermediate
Duration : 60 Minutes
Linda B Sarabia is a Mexican customs and foreign trade consultant since 1991. She was the senior editor of a version of the Mexican import/ export HTS, that was 20 years in the market. Instructor in HTS classification and Mexico customs procedures for Mexico Customs Brokers Associations.
Customs Tariff Consultant at WiseTech Global, in charge of the Mexico and the United States customs and international trade compliance libraries in Borders.
Manufacturing in Mexico as a maquiladora under the IMMEX program (formally known as the Maquiladora Program) can offer tremendous benefits for virtually any foreign manufacturer, especially those selling into the North American market. Established in 1965 by the Mexican government as a way to reduce unemployment along the borders, the maquiladora program offers foreign companies easy access to inexpensive labor, favorable tax benefits and special import/export terms via some 44 free trade treaties and agreements with countries around the world. The IMMEX program, however, requires companies to follow strict regulations and compliance, especially in the areas of Customs (Import/Export) and Accounting. A strong administrative team is highly recommended.
Mexico's IMMEX program is defined as an instrument to temporarily import goods and services that will be manufactured, transformed or repaired, and then re-exported without payment of taxes, compensatory quotas, and other specific benefits. In the past, there used to be two separate programs in Mexico; Pitex for 'temporary' imports and exports, and the Maquila program for maquila-specific operations. The new IMMEX program consolidates the benefits of these legacy programs and facilitates interaction with government authorities to operate under the program.
The main benefit of the IMMEX program is the ability to defer taxes on goods that are temporarily imported into Mexico and the ability to consolidate import declarations. Mexico's IMMEX program is defined as an instrument to temporarily import goods and services that will be manufactured, transformed or repaired, and then re-exported without payment of taxes, compensatory quotas, and other specific benefits. Recently Mexico Prohibits Use of U.S. Re-Export Sugar in IMMEX Program.
This training program will cover Maquiladora formation and regulations, IMMEX registration requirements, NAFTA Certificate of Origin, combining IMMEX and NAFTA, and more.
- Brief history
- Maquiladora formation and regulations
- IMMEX registration requirements
- NAFTA Certificate of Origin
- Combining IMMEX and NAFTA
- Annex 24 & 31- IMMEX
- Eligible operations
- Program cancelations
- Mexican FTAs
- Gain awareness for the regime
- Understand its requirements
- Recognize the program’s benefits
- Distinguish the program’s obstacles and resource requirements
- Be aware of the penalties and program cancelations
Course Level - Intermediate
Who Should Attend
- Trade and Finance Controllers
- Logistics Professionals
- Plant Managers
- Supply Chain Professionals
- Sourcing Specialists
- Shipping/Receiving Staff
- Procurement Analysts
- Global Trade Managers
- Integration Managers
- Risk Management Manager
- Decision Makers
Why Should You Attend
The Mexican Maquiladora/PYTEX programs have evolved over the past 60 plus years into today’s IMMEX (Industria Manufacturera, Maquiladora y Servicios de Exportacion) program. It allows qualifying companies a greater range of activities they can take part within the Mexican territory. Given its temporary imports under bond options, this program has a rigorous documentation maintenance requirement. It will review this special regime’s bonded production/assembly options, how you can best take advantage of it and how to maintain it.