Key Take Away :
This webinar is designed to address how the impact of Multiple Free Trade Agreements will influence the merchant’s duty rates and their resources allocation, production, and trade patterns by focusing on the duty management roles when it relates to the importer in understanding how to reduce taxes and tariff costs in the geopolitical international trading environment.
Manufacturing in Mexico as a Maquiladora under the IMMEX program (formally known as the Maquiladora Program) can offer tremendous benefits for virtually any foreign manufacturer, especially those selling into the North American market (North American free trade agreement certificate of origin).
Established in 1965 by the Mexican government to reduce unemployment along the borders, the Maquiladora program offers foreign companies easy access to inexpensive labor, favorable tax benefits and special import/export terms via some 44 free trade treaties and agreements with countries around the world. The IMMEX program, however, requires companies to follow strict regulations and compliance, especially in the areas of Customs (Import/Export) and Accounting. A strong administrative team is highly recommended.
Mexico’s IMMEX program is defined as an instrument to temporarily import goods and services that will be manufactured, transformed, or repaired, and then re-exported without payment of taxes, compensatory quotas, and other specific benefits. In the past there used to be two separate programs in Mexico; Pitex for ‘temporary’ imports and exports, and the Maquila program for maquila-specific operations. The new IMMEX program consolidates the benefits of these legacy programs and facilitates interaction with government authorities to operate under the program.
The main benefit of the IMMEX program is the ability to defer taxes on goods that are temporarily imported into Mexico and the ability to consolidate import declarations. Mexico’s IMMEX program is defined as an instrument to temporarily import goods and services that will be manufactured, transformed, or repaired, and then re-exported without payment of taxes, compensatory quotas, and other specific benefits. Recently Mexico Prohibited Use of U.S. Re-Export Sugar in IMMEX Program.
Why Should You Attend :
The Mexican Maquiladora/PYTEX programs have evolved over the past 60 plus years into today’s IMMEX (IndustriaManufacturera, Maquiladora y Servicios de Exportacion) program. It allows qualifying companies a greater range of activities they can take part within the Mexican territory.
Given its temporary imports under bond options, this program has a rigorous documentation maintenance requirement. It will review this special regime’s bonded production/assembly options, how you can best take advantage of it and how to maintain it.
As importers or exporters, we must learn how to manage costs attributed to duties that can be imposed by the customs authority of the transactional region. In doing so, importers and exporters must not only rely on the customs authorities to inform them about the duty management requirements for each trade agreement that might alert them to allowances that applied to their business goods.
This trade agreement review process will explain the merchants’ responsibility in understanding and use the various duty management options in compliance with multilateral trade agreements. For this reason, the duty management role in the reviewing and assessing the trade barriers that are associated with quotas, nontariff, punitive damages and special duties that were designed by the country of origin to restrict trade and increase coordination costs for their benefits. Thus, it is imperative that merchants have agood understanding of trade agreements and duty compliance processes, which can lead to legal and coordination challenges that might cause in delaying their product entire into the marketplace.
Areas Covered In This Webinar :
Maquiladora formation and regulations
IMMEX registration requirements
North American Free Trade Agreement Certificate of Origin Form
Combining IMMEX and NAFTA
Annex 24 & 31- IMMEX
Gain awareness for the regime
Understand its requirements
Recognize the program’s benefits
Distinguish the program’s obstacles and resource requirements
Be aware of the penalties and program cancellations
Learning Objectives :
Aim of the IMMEX program
Who is eligible to obtain an IMMEX program
How to manage an IMMEX program
Non-tariffs measures application
Difference between IMMEX and other Export promotion programs
How the FTA’s affected the application of import tariffs to IMMEX importations
Customs Value on IMMEX operations
Who Will Benefit :
Trade and Finance Controllers
Supply Chain Professionals
Global Trade Managers
Risk Management Managers
For more information, please visit : http://www.atozcompliance.com/trainings-webinar/cross-industry-functions/trade-and-logistics/north-american-free-trade-agreement-immex/dr-rossano-v-gerald/300233?utm_source=ref&utm_medium=08March
Toll Free: +1- 844-414-1400
Speakers Profile :
Dr. Rossano V. Gerald
Dr. Rossano V. Gerald is an academic professor and founder of RVG International Consulting Firm, LLC. He has over thirty years of business experience in strategic management, marketing analysis, and supply chain management. Dr. Gerald is a veteran of the United States Army. He has worked with small and medium-sized businesses to help improve their business logistic processes through verification of operational and supply chain programs. Further, he has developed management and marketing strategies that were used to improve the efficiency and effectiveness of business operations in the global economy. He earned a Doctor of Business Administration in International Business and Advanced Professional Business Certification in Marketing from Argosy University/Sarasota; Master of Science Degree (J.S.M.) for International Tax and Finance Services in the risk compliance and management field from the Thomas Jefferson School of Law.
Dr. Gerald is a member of the Free Trade Alliance, San Antonio Transportation Association, Inc., San Antonio SCORE, TX, Supply Chain Council and Institute of Business Forecasting & Planning, and CATO Institute of Research & Analysis and Academy of Business Research. He is a certified supply chain manager, inventory planner and property forecaster, and certified consultant for business value analysis and methodology. He is also a certified export leader, certified master management consultant, certified CCA, certified marketing analyst and registered business analyst. He has published scholarly papers for the Journal of International Business and Economics and the Strategic Management Quarterly.