The environment in which foreign trade takes place is Mexico has led to implications that impact the country’s present and future.
Despite the nation-wide security problems Mexico faces and the new domestic and international scenarios, in recent years different regions of the country have seen their manufacturing sector grow thanks to development and modernization and have taken on importance.
Tariff policy and process systemization have been factors bolstering this development, especially by facilitating international trade as a means to grow exports. Mexico has sought fervently to promote productive chains as a means to maintain the competitiveness of its companies in the international market.
It has consolidated this situation by signing different agreements as well as Free Trade Agreements and by creating procedures that seek to maintain the competitive conditions of raw material, parts and component supplies to be incorporated into export goods as well as machinery, equipment, tools, molds and spare parts for manufacturing processes, due to the fact that the domestic offer of certain goods is or has been insufficient in recent years.
The need to complement these supplies with imported goods has enabled domestic industry to have access to supplies under conditions similar to those that foreign competitors have, resulting in Mexico having an open economy that has managed to attract enormous investments and create good commercial positioning in the markets of different developed countries.
Because the tax evolution on foreign trade in Mexico has had such a large impact on the tax environment for the country and companies, Andersen Tax & Legal has targeted implementing compliance frameworks to keep the mechanisms offering benefits and facilities to our clients in effect and execute action plans for a timely control of risks or any reduction of benefits.