As part of the structural reform process of the General Import and Export Tariff and Tax Modifications (TIGIE) currently underway, which was discussed in issue 139 of this publication, Mexico’s President recently published a Decree that modifies Chapter 60 of the TIGIE, including the following decrees, in order to be consistent with such modifications:
- Decree Establishing the General Import Tax for the Border Region.
- Decree for the Promotion of the Manufacturing, Maquiladora and Export Services Industries (IMMEX Decree).
The main changes that affect the textile industry are as follows:
- 120 tariff classifications were included, identifying in greater detail various goods from the textile industry, which result from the breaking down of 61 prior tariff classifications.
- The new 120 tariff classifications maintain the general import tax and the non-tariff regulations and restrictions of the original 61 tariff classifications.
- Explanatory notes to Chapter 62 were included.
- Exhibit II of the IMMEX Decree was modified, which includes the list of goods that are classified as sensitive, the import of which requires importing parties to request and obtain additional authorizations.
These are effective as from December 3, 2017. Therefore, it is advisable for companies to review and implement necessary internal processes to address such modifications.