Upcoming tariff reduction for used cars
Reduced tariffs and other benefits are intended to be set for the definitive import of used cars.
The Ministry of Finance and Public Credit and Economy (abbreviated SHCP and SE in Spanish) propose regulation to COFEMER (Federal Commission for Regulatory Improvement) for the definitive importing of used cars.
In order to give continuity to the actions implemented through the "Decree setting forth the conditions for the definitive importing of used vehicles," which term is due to end (June 30, 2011), the Ministries of Finance and Public Credit and Economy presented a Decree proposal to COFEMER in order to regulate the definitive importing of used vehicles, through a schedule for phasing out restrictions for the period 2011-2013.
If the Decree is approved, benefits would be granted for the definitive importing of those used vehicles which Vehicle Identification Number corresponds to that of the manufacturing or assembly of the vehicle in Mexico, the United States and Canada, establishing ad-valorem reduced tariffs, without requiring prior authorization from the SE (Ministry of Economy), nor the need to have a certificate of origin.
The tariffs will vary by location and age of the vehicle:
|
8 to 10 years |
10% |
As of the date of entry into force of the Decree until December 31, 2012 |
|
|
6 to 7 years |
15% |
As of January 1, 2013 |
|
|
8 to 9 years |
20% |
As of January 1, 2013 |
|
|
Northern Border Area |
5 to 9 years |
1% |
As of the date of entry into force of the Decree until December 31. 2013 |
|
10 years |
10% |
No date specified |
Importing will continue to be conducted pursuant to the procedure set forth by SAT through general rules.
