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Mexico: Preparing companies for increased customs audits and inspections (Video Chat)

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In brief

In recent years, we have seen a significant increase in Custom Audits by both Federal and State Tax Authorities, mainly to companies with foreign investment. We have seen Maquiladoras/IMMEX that were audited and received tax assessments in high amounts, including one for USD 70 million and one for USD 172 million dollars. What is the reason for these outstanding amounts and how can Maquiladora/IMMEX companies prevent these tax contingencies derived from these foreign trade audits?

In this Quick Chat video, our International Commercial partners in Mexico along with the Managing Partner for Baker McKenzie’s Mexico offices discuss what to expect from an audit, the consequences including financial liability and the preventive measures Mexican companies must take.

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Author

Pepe is the National Managing Partner in Mexico. He is recognized as a leading practitioner in real estate law by Chambers Latin America. Speaks regularly on topics relating to his area of practice, has authored a number of articles for various publications, including "Fibras and their Amendments" in Immobiliarie, as well as co-authored the Mexico Section of the Firm's Global Real Estate Taxation Guide for 2009 and 2010. He is a member of the San Diego Dialogue's Steering Committee, and is also a member of the Mercy Hospital Foundation, among other civic associations.

Author

Adriana has over twenty years of experience in customs and foreign trade matters. She joined Baker McKenzie in 2001, became National Partner in 2005 and a Principal in 2018. She has prior experience working as legal director of Rules of Origin, Customs Procedures and Safeguards in the Mexican Ministry of Economy where she participated in the negotiation of several free trade agreements (FTAs) and in the first dispute settlement resolution cases initiated by Mexico against the US under the NAFTA. Adriana has been ranked a leading practitioner by Chambers and Partners at Chambers Global and Chambers Latin America as well as Legal 500 for ten consecutive years. She was an associate in our Guadalajara and Washington, D.C. offices and currently Heads the Firm’s North America International Commercial Practice Group in Mexico City.

Author

Jorge Ambriz Cuevas is a partner in Baker McKenzie’s Foreign Trade and Customs Practice Group in Juarez. Prior to joining the Firm, he was an associate and later an acting director in the trade and customs group of a prominent law firm in Mexico. He was also a manager and later senior manager in a Big Four accounting firm’s trade and customs practice. Jorge has also served as director of foreign trade and customs audit in the headquarters of Mexico’s Internal Revenue Service, and worked in the Ministry of Economy’s Trade Department.

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