Customs Rules on MNEs Moving to Mexico

• Mexico has two main operations related to customs valuation: IMMEX program operations and definitive imports.
• Importers must declare the accurate customs value of the merchandise for calculating import duties and taxes.
• Accurate values are important for paying import duties, taxes, and income tax correctly.
• Temporary imports may not be purchases, but accurate customs values still need to be declared.
• Some temporary imports may be changed to definitive customs regime if purchased by the Mexican importer.
• Definitive imports mostly use transaction value as the customs valuation method.
• Importers can perform annual transfer pricing adjustments for related party transactions.
• Mexican companies can use a global pedimento to update customs values for the year.
• Not reflecting transfer pricing adjustments in import pedimentos can lead to income tax exposure.
• Inaccurate commercial values declared in import pedimentos can result in fines for the importer.

Source: insightplus.bakermckenzie.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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