Drinker Biddle & Reath LLP’s International Trade Team, in conjunction with Basham, Ringe, y Correa, S.C.’s Mexican trade counsel, hosted an informational webinar to detail the possible impact of recent Mexican tax law changes and issuance of tax authority guidance on your maquiladora and trade compliance operations. Drinker Biddle & Reath Washington D.C. associate Nicolas Guzman and Basham, Ringe, y Correa, S.C. Mexico City partner Rogelio Cruz Vernet presented “The Impact of Mexican Tax Reform on your Maquiladora Operations: Trade Compliance’s Role in Tax Certification Requirements.” The discussion included tips for bridging the gap between Mexican trade compliance requirements and Mexican tax certification rules.

This webinar explained some of the key changes to maquiladora operations arising from the 2013 Mexican Tax Reform, including the elimination of the exemption on Value Added Tax (VAT) for temporary imports and other changes.  While implementation of the new VAT structure does not begin until January 1, 2015, companies that import products into Mexico on a temporary basis can begin applying for a Tax Certification Program that will provide immediate VAT credits beginning on April 15, 2014.

Source: Drinker Biddle Webinar