ANNOUNCEMENT 01 Jun 2018
The Mexican government prohibited the importation of any hydrocarbon under the IMMEX regime, eliminating from that regime certain lubricants and other materials derived from hydrocarbons.
NUMBER OF INTERVENTIONS
Mexican Official Gazette. Diario Oficial de la Federación. DOF 01/06/2018. Decreto por el que se reforman, adicionan y derogan diversas disposiciones del Código Fiscal de la Federación, de la Ley Aduanera, del Código Penal Federal y de la Ley Federal para Prevenir y Sancionar los Delitos Cometidos en Materia de Hidrocarburos. Available at: http://dof.gob.mx/nota_detalle.php?codigo=5524857&fecha=01/06/2018
On 1 June 2018, the Mexican Secretariat of Finance and Public Credit enacted a Decree modifying the Customs Law in terms of hydrocarbons. In this sense, one of the key changes is the exclusion of any hydrocarbon-derived product from the IMMEX regime.
The IMMEX program allows the temporary duty and VAT-free importation of goods and raw materials that are to be used in the production, transformation or reparation of foreign goods that will be exported. As a result of the new decree, lubricants and other hydrocarbon-based materials are no longer allowed within this regime.
The Decree issued by the Mexican Secretariat of Finance and Public Credit on 1 June 2018 also eliminated the tax-based export incentive resultant from the temporary duty and VAT-free importation of goods under the IMMEX program. In this sense, the removal of lubricants and other hydrocarbon-based materials from the list of inputs affected by the IMMEX regime implies that their related outputs do not longer enjoy the export incentive.