Amendment to the general taxes of import and export laws, and amendment to the PROSEC Decree.
Dear customers and friends,
On the publication of the Federal Mexican Journal of March 25, 2019, Mexico again imposed a 15% rate on steel imports with countries with which it does not have commercial agreements, since the Ministry of Economy concluded that there are no conditions for competition free of distortions between the steel industries of different countries.
In this way, the list of the taxed steel goods includes sheet and roll plate, cold rolled sheet, hot rolled sheet, wire rod, seamless tubes, welded pipes, coated sheet, rods and profiles.
The publication also contains an amendment to the Prosec Decree with the purpose that the determination of the Ad-Valorem rate indicated above does not affect the productive chains of the Electric, Electronic, Automotive and Auto Parts Sectors.
The complete list of the tariff fractions affected by these amendments can be consulted in the following link:
Derived from the above, it is important to analyze the impact that imports of these products will have on Mexico, since the changes will begin on March 26, 2019.
As always, the Partners and Associates are at your service for any questions or comments on this content.