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BGV&GB VAT CERTIFICATION OBLIGATIONS AND CUSTOMS UPDATE Western Maquiladora Trade Association Lic. Judith A. Wilson Bryan, Gonzalez Vargas & Gonzalez Baz,

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Presentation on theme: "BGV&GB VAT CERTIFICATION OBLIGATIONS AND CUSTOMS UPDATE Western Maquiladora Trade Association Lic. Judith A. Wilson Bryan, Gonzalez Vargas & Gonzalez Baz,"— Presentation transcript:

1 BGV&GB VAT CERTIFICATION OBLIGATIONS AND CUSTOMS UPDATE Western Maquiladora Trade Association Lic. Judith A. Wilson Bryan, Gonzalez Vargas & Gonzalez Baz, S.C. Blvd. Agua Caliente # Tijuana, Baja California, Mex October 15, 2014

2 BGV&GB VAT CERTIFICATION -ANNEX 31 © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C Effective January 1, 2015, companies that have been certified for VAT and IEPS, and those under bond for VAT shall comply with Annex 31 of the General Rules on Foreign Trade (to be published): Submit an initial inventory of raw materials imported under temporary regime to December 31, 2014 Submit an initial inventory of fixed assets imported under temporary regime to December 31, 2014 Submit on a monthly basis thereafter, Backflush Reports (descargas). These reports will be submitted via Internet for which formats will be published in Annex 31.

3 BGV&GB VAT CERTIFICATION -ANNEX 31 © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C Customs Values: The value declared on temporary imports in 2015 may not be a provisional value; As a result, companies must closely analyze the method of their customs valuations (as established in Mexican Customs Law) to allow for the use of the taxable base to be declared at the time of importation.

4 BGV&GB VAT CERTIFICATION -ANNEX 31 © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C Monitoring of Compliance Requirements: Companies that fail to comply with Annex 31 will be subject to the payment of VAT on non-returned goods and to the loss of the VAT Certification. At the moment the legal term for the merchandise expires (18 months + 1 day), if the exportation cannot be proven, the VAT credit will be automatically cancelled and the VAT will become due and payable.

5 BGV&GB VAT CERTIFICATION -ANNEX 31 © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C In conclusion: Start analyzing inventories before the end of the year. Do an Inventory Reconciliation against Customs Manifests. Implement a Customs Compliance Program. The above to avoid any grounds for cancellation of the VAT Certification.

6 BGV&GB Customs Centralized Online Payment (PECA) © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C As of September 1, 2014 companies are required to have their own customs account for payment of customs duties for “Sensitive Products” (Productos Sensibles). Those that are identified as undertaking “Vulnerable Activities” are subject, per the Federal Law for the Prevention and Identification of Transactions from Illegal Funds (Anti-Money Laundering Law).

7 BGV&GB Customs Centralized Online Payment (PECA) © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C Sensitive Products: Cigarettes Steel Land, air and marine vehicles Gambling and slot machines Jewels, watches and precious stones and metals Works of art Materials and equipment for Armoring, among others… * These regulations do not apply to IMMEX Companies, Certified Companies and Automobile Assemblers.

8 BGV&GB Customs Centralized Online Payment (PECA) © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C Legal Basis: Chapter 1.6. General Regulations for Foreign Trade …contributions, taxes and related charges will be paid with a personal check from the importer’s or exporter’s account, or through the Customs Centralized On Line Payment service (Pago Electronico Centralizado Aduanal “PECA”) with an authorized banking institution.

9 BGV&GB Customs Centralized Online Payment (PECA) © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C Procedure: 1.The importer/exporter opens a checking account and enters into a tax payment service contract with the Bank. 2.The importer/exporter authorizes the Customs Broker to make payments through the account and gives the “Account Identifier” to the Customs Broker. 3.The Customs Broker makes the customs declaration (manifest) payment online specifying the importer/exporter Account Identifier. 4.When the bank receives the online application, the system verifies it through the importer/exporter’s identifier stating that the Customs Broker is authorized to make such payment. 5.The importer/exporter can check the charges made by the Customs Broker on its account online. 6.The date, customs patent, customs declaration and amount can be verified for each debited transaction.

10 BGV&GB PAGO ELECTRÓNICO CENTRALIZADO ADUANAL © Bryan, Gonzalez Vargas & Gonzalez Baz, S.C Benefits: 1.The main objective of these provisions is to avoid the triangulation of funds, by charging the duties directly to checking account of the importer/exporter. 2.It allows for better identification of the importer/exporter and transparency, efficiency, security and ease of the transaction. 3.It streamlines the payment process, allowing it to be made directly and thereby eliminating differences in the amount that was paid and the amount reflected on the Import Manifest, as well as on the Customs Payment Forms that are used.

11 BGV&GB Wells Fargo Plaza 221 North Kansas St. El Paso, TX USA Tel.: +1 (915) Fax.: +1 (915) Merrill Lynch Building 701 B Street, Suite 236 San Diego, CA USA Tel.: +1 (619) Fax: +1 (619) Edificio CNCI Av. Batallón de San Patricio 109 Sur Piso 17, Valle Oriente San Pedro Garza García, (Monterrey), N.L., México Tel.: +52 (81) Fax: +52 (81) Calle Lilas H. Matamoros, Tamaulipas, México Tel.: +52 (868) Fax: +52 (868) US Mailing Address: 1474 West Price Rd. Suite #464 Brownsville, TX Av. Ejército Nacional 6515 Col. El Marqués Ciudad Juárez, Chihuahua, México Tel.: +52 (656) Fax: +52 (656) US Mailing Address: P.O. Box 1501 El Paso, TX Calle Ignacio Allende No Esq. Guillermo Prieto Plaza Bonita La Paz, BCS, México Tel.: +52 (612) Fax: +52 (612) Moliere # 13, Suite 301-A Col. Chapultepec Polanco Mexico, D.F., México Tel.: +52 (55) Fax: +52 (55) Centro Corporativo Centura Blvd. Agua Caliente 10611, 3er. Piso Tijuana, Baja California, México Tel.: +52 (664) Fax: +52 (664) US Mailing Address: P.O. Box AA Chula Vista, CA Edificio González Elizondo Calle Ortiz Rubio Reynosa, Tamaulipas, México Tel.: +52 (899) Fax +52 (899) U.S. Mailing Address: PMB N. 23rd. St. Suite B McCallen, TX Calzada Independencia 1211-C Centro Cívico Mexicali, B.C., México Tel.: +52 (686) U.S. Mailing Address: P.O. Box 2028 Calexico, CA Office Locations


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