IMMEX enables companies to import their equipment, raw materials, and components duty-free, for their transformation and re-export to other markets. This has been a highly effective system for more than 50 years.
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.
In addition, companies can access the PROSEC program (Sectoral Promotional Program) to reduce or possibly eliminate import duties for goods and materials that are imported temporarily or definitively depending on the industry or services they provide.