News Flash: Modification to Foreign Trade General Rules
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News Flash: Modification to Foreign Trade General Rules

On May 27, 2021, the Ministry of Finance published the fifth resolution of modifications to the 2020 Foreign Trade General Rules in the Official Federal Gazette.

The main modification corresponds to rule 1.5.1, regarding the manifestation of value, eliminating the option for the customs agent to file the value manifest on behalf of the importer, which will generate an administrative burden on the operation itself. Also, in case of an error in the manifest, a fine ranging from MXN 2,010.00 to 2,860.00 must be paid, according to article 185 II of the law.

It clarifies that the manifest will be filed, in each motion, as an e-document. It should be remembered that the new value manifest will come into effect ninety (90) days after its publication on the SAT portal.

Even though there are some exceptions to the transmission of this manifest, the authority may require it at any time. It should be noted that the entry into force of the value manifest could initiate the obligation to document the valuation per article 81 of the Customs Law Regulations could be initiated.

 

We remain at your service for any questions or comments in this regard.

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