How to reduce the payment of taxes on the import of products?
The payment of taxes on the importation of goods is something that can never be avoided; however, this expense can be deferred and carried out efficiently, profitably and conveniently if one thinks of highly competitive safeguarding strategies such as the Tax Deposit regime.
It is a fact that any merchandise that is intended to be imported will generate a specific tax or a tariff rate. Some of the contributions that are regularly charged when importing products are:
The General Import Tax (tariff)
Value Added Tax (VAT)
Special Tax on Production and Services (IEPS)
Customs Processing Law (DTA)
Clearly making the payment for these taxes can be expensive and even risky, since in most cases, when importing merchandise, the time in which it will be possible to sell completely is unknown.
Therefore, the Tax Warehouse regime was created with the aim of promoting the development of any industry that wishes to import its merchandise to Mexico and therefore reduce the economic impact of paying taxes on that merchandise, which, although it is already on Mexican soil, will not be paid immediately.
But how does a Tax Deposit work?
This type of regime allows the importer to defer the payment of taxes as long as the merchandise is protected in a warehouse enabled as a Tax Warehouse.
It allows the importer not to decapitalize every time he performs this process and obtains a kind of financing on taxes while the goods remain in the warehouse. And in that sense, make the payment when you request the extraction of the product and have sold the merchandise.
Another great advantage of the Tax Deposit is that it does not stop the commercial operations of the importer, since inside the warehouse, it is free to show the product as many times as it wishes without the need to make extra payments. Which allows you to proceed with any kind of negotiation.
In addition, you can receive value-added services such as: labeling service, assembly of orders and promotions, marking, light maquilas, quality review and labeling for compliance with the Official Mexican Standards.
Clearly, the Tax Warehouse regime is a weapon that, if used properly, will generate an important ROI for those companies that import their merchandise into Mexican soil.
If you are looking for a strategic ally to help you make your import process more profitable, approach Amerisa Logistics and one of our experts will help you identify which is the ideal path to take your company on a path of growth.