Mexico,Import,Fees,and,Duties, business, insurance Mexico Import Fees and Duties
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Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-priority:99;mso-style-qformat:yes;mso-style-parent:"";mso-padding-alt:0in 5.4pt 0in 5.4pt;mso-para-margin-top:0in;mso-para-margin-right:0in;mso-para-margin-bottom:10.0pt;mso-para-margin-left:0in;line-height:115%;mso-pagination:widow-orphan;font-size:11.0pt;font-family:"Calibri","sans-serif";mso-ascii-font-family:Calibri;mso-ascii-theme-font:minor-latin;mso-hansi-font-family:Calibri;mso-hansi-theme-font:minor-latin;}Import Clearance or Permit is themost important document an importer must have in importing goods to Mexico.This clearance or permit is acquired through Customs upon submission of CustomsDeclaration which is subject to certain applicable fees, duties and taxes.Tariffs imposition on goods is dependent on the country of origin. For example,imported goods from Canada or the United States of America usually enjoypreferential treatment through low or almost zero tariffs due to a pact Mexicoentered with the said country called NAFTA. But in general, Mexicos importduties and taxes depend on the value and the type of goods being imported.Import Duties Mexicos tariff rates followprescribed rules set by the World Trade Organization. Tariff on items islimited only up to 35% maximum. The percentage is based on the over-all productvalue which is subject to Customs valuation. The following are the duties onimported products.A. Anti-dumping It is a measure to counter products which are produced at a very lower costcompared to domestic or home products. This is can be very harmful to the homeeconomy. Thats why Mexico imposes anti-dumping measures which levies suchimported products at a very high rate to even the products local price. Onebest example is the textiles coming from China.B. ExciseDuties A duty that increases the tax rate of imported cigars, cigarettes andalcoholic beverages. C. AdditionalDuties This includes ad valorem duties (percentvalue of the imported goods), specific duties (percent quantity of the imported) and compounded duties (ad valorem plus specific duties) forimport products. For example, sugar pay specific duties and sugar products paycompounded duties.Import Taxes A. VAT(Value added tax) A 15% tax on the cumulative value of the customs value plusother fees and duties on imported products. For products staying in the borderzone, VAT is 10%. The following are exempted goods from VAT:1. Personal luggage2. Temporary imports3. Household Furnishings of immigrants returning ornationals4. Non-industrialized products (vegetables,animals, pharmaceuticals etc)B. CustomsFees Additionally, a processing fee of 0.8% is charged on the importer.However, goods originating from free trade partner country are exempted fromprocessing fee.The numerous classifications ofduties, taxes and fees lead to confusing ideas and may cause misunderstanding.Thats why a customs broker is necessary for any customs transaction. Duties, fees and taxes arepayable at commercial banks near any Mexican port of entry.
Mexico,Import,Fees,and,Duties,