The Mexican Ministry of Economy made changes to the General Import and Export Tax Law (LIGIE) and implemented the VII Amendment to the Harmonized System.

First and foremost, the LIGIE serves as a crucial trade facilitation tool. It aligns with the Harmonized System, a common framework used by all World Customs Organization (WCO) member countries for the denomination, codification, and classification of internationally traded goods.

For the implementation of the VII Amendment of the Harmonized System, the Ministry of Economy worked on the version of the LIGIE, together with the Ministry of Finance and Public Credit (SHCP) and the Tax Administration Service (SAT).

After its approval by the Mexican Congress, the LIGIE was published on June 7. It is set to take effect within 180 days from that date.

The implementation of the VII Amendment in Mexican legislation fulfills an important international commitment. Additionally, it ensures Mexico’s alignment with the international classification system used by its key trading partners, promoting timely compliance.

LIGIE

In accordance with the Decree issuing the LIGIE, the Ministry of Economy published the Agreement on June 27, 2022. This Agreement outlines the methodology for creating and modifying commercial identification numbers.

Additionally, the Ministry of Economy must publish certain agreements within strict deadlines. First, the correlation tables between the TIGIE 2020-2022 tariff fractions and the Commercial Identification Numbers (NICO) must be disclosed. This must happen within 40 calendar days of the LIGIE’s publication. Second, the Agreement revealing the National Notes of the TIGIE must be issued. This must occur within 60 calendar days.

Furthermore, it is essential to update all foreign trade instruments specifying tariff items. This process is being coordinated with relevant agencies to ensure publication in the DOF no later than 90 calendar days after the LIGIE’s publication.

Finally, other instruments also require updates to maintain the current regulatory framework.

Among the instruments to be updated are the IMMEX Decree, the PROSEC Decree, the Border Decree, the Chetumal Decree, the Decree for the competitiveness of the automotive terminal industry, the Decree for used cars and various tariff-quotas that Mexico has.