By Berenice Egurre and Cesar Buenrostro
Two years after the start of the COVID-19 pandemic, signs of a reactivation in economic activity are beginning to be seen, including foreign trade operations.
Naturally, companies give priority to the daily processes that give the cash flow that keeps them afloat; however, it is also important not to forget the fulfillment of the inherent obligations.
According to experts in the area, there are four relevant post-pandemic international trade practices.
The commercial recovery can also be seen in the activity of the tax authorities, since, according to the tax and management report for the third quarter of 2021 of the Tax Administration Service (SAT), there was a considerable increase in the collection of contributions of foreign trade from January to September 2021.
In this sense, the return on investment for each peso invested in auditing was 141.50 pesos.
Considering the above, it is essential to have the necessary resources and efficient controls for effective customs and tax compliance in order to avoid fines, suspensions and cancellations of the list of importers of the Manufacturing, Maquiladora and Export Services Industry Program (IMMEX), the Sectoral Promotion Program (PROSEC) or the certification of the value added tax (VAT).
The increased use of technology and remote work by importers, exporters, and some service providers have made the validation and protection of files a priority.
Although the files on foreign trade were already handled electronically, it is necessary to verify that they are complete and protected on the company’s server, in addition to having them in emails or on external storage sources.
One of the obligations of the IMMEX Program is to notify the Ministry of Economy (SE) about the changes of its partners, shareholders, and legal representatives. For this reason, companies that have VAT certification must present the corresponding notice at the digital window during the month immediately following the modification of collaborators who have powers for acts of ownership or members of the administration.
Ignoring this process may result in non-compliance with the IMMEX Program and VAT certification, the effect of which could be the suspension or even cancellation of these.
According to the study of Perspectives of Senior Management in Mexico 2022:
49 percent of the companies surveyed will continue to work at their facilities, while 28 percent will continue to work remotely.
54 percent have implemented some real estate strategy, either by modifying the number of rented spaces or making use of collaborative spaces or flexible leasing schemes.
Organizations have operated in a constantly changing reality for the past two years. These challenges have impacted the continuity of the supply chain, so it is necessary to attend to good international trade practices, following established procedures to maintain compliance and avoiding sanctions or situations that could put the business operation at greater risk.*This article was printed with permission. To keep reading search for Mexico Industry in your browser.
