Mexico Will Impose Tax Cuts On Imported Goods Such As Shoes.

2011/12/29 11:19:00 9

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Tax Cuts For Imported Goods Such As Mexico Shoes

The Mexico economist reported on December 26th that Mexico will import 479 commodities from January 1, 2012.

Tax reduction

It includes cars, trucks, leather and shoes, machinery and textiles.

clothing

Electrical appliances and components, chemicals, steel and finished products, cosmetics and soap.

It was reported that the tariff reduction for imported goods was most prominent in clothing, because it included 396 different types of clothing.

Trade liberalization

82.7%.

According to the Ministry of economic affairs's tax reduction plan in 2008, the duty on clothing imports will drop from 35% to 20%-25%, and the import duty on shirts will be reduced from 30% to 25%.

In addition, tariffs on imported cars and trucks will be adjusted from 30% to 20%.

According to the newspaper, the tax reduction scheme implemented in Mexico since 2009 is the most extensive unilateral trade opening in the past 20 years, that is, the gradual reduction of the tax rate on 6871 of the 10800 imported commodities.

However, in 2010, the federal government of Mexico adjusted the tax reduction policy to reduce the tax reduction of 319 commodities from 2010 -2013.