Essential focal points for companies involved in foreign trade operations.
In recent years, Mexico has established more robust monitoring and control mechanisms within the supply chain and foreign trade regulations. Companies engaged in foreign trade must focus on specific areas that guarantee the correct continuity of their operations.
These mechanisms allow the authorities to identify the degree of compliance in multiple commercial operations through preventive audits. This results in a significant increase in the authority’s powers of oversight.
Review of internal processes and procedures.
Identify areas of opportunity to shorten times and optimize resources, making operational routes more efficient in order to be more competitive.
Investment in technology.
The strengthening of processes based on technological capabilities and thus effectively monitor compliance with both regulatory obligations and efficiency in the Value Chain.
Systematization of inventory control.
Due to the increase in the number of inspections carried out by the authorities, companies must keep their operations perfectly controlled through an inventory control system, where the legal stay of merchandise, registered addresses and percentage of exports can be identified.
Supply chain benefits.
To manage benefits in the manufacturing supply chain, for example, it is relevant to obtain the AEO (Authorized Economic Operator) program. This will recognize a secure chain that provides a significant number of customs benefits:
1.- Extend the term of legal stay to 26 months for those who have an imex program.
2.- Flexibility when being subject to verification powers.
3.- To process the guarantee or VAT certification, in order not to make the corresponding payment at the time of temporary importation or with a fiscal and strategic rescinto.
3.- Make massive regime changes for the sectorial promotion program, which also applies to companies that exclusively carry out manufacturing activities and that the main benefit would be a reduced tariff rate, although a reduction in the amount of the general import tax to zero could also be negotiated. The above, with the purpose of addressing the increases in tariffs, especially in steel-related merchandise from the perspective of foreign trade for a satisfactory landing.
Conduct a study, before carrying out any import, to know what the regulations and banking restrictions will be in order to prepare and avoid delays at customs or even the impossibility of carrying out the imports.
5.- Consider the terms to obtain all foreign trade authorizations, such as the importers’ registry. The importer registry of specific sectors, the imex, the PR with the VAT certification, because this can range from 8 months to one year.
Evaluate the fiscal mechanism that would allow more efficiencies such as operating under a maquila regime, contract manufacturer or
full fledge manufacturer; the different options for efficiency from a tax and legal point of view.
7.- Consider that the individual identification data of the fixed assets such as: brand, model, part number, or serial number, must match perfectly with the customs documentation and the individual identification plate of these assets because otherwise it would be difficult to have the support of the legal stay before any review by the authority. This is especially important for companies that are operating in Mexico for the first time or those that are going to expand their production lines.