It’s already New Year and foreign trade knows it!

As we had previously heard, at the beginning of this year there were going to be changes in customs and regulations in the economic package.

It is important to know everything about the changes that will take place because they can benefit your business and the marketing of your products. In 2021 we will face disjunctions that will affect our economic and cultural personality in the world. Success depends on our ability and ingenuity to remain open to any circumstance that will benefit the well-being of the population.

The Tax Reform Initiative for the year 2021, presented on September 8, 2020, indicates changes in customs and foreign trade, and some of these changes include changes in the definition of merchandise within the Federation Fiscal Code, assumptions of presumption of smuggling, among others.

In particular, the proposed changes are listed below:

• Enforcement of customs law provisions, when applicable
• Electronic reviews
• Homologation of definitions of the CFF and the Customs Law
• Presumption of contraband
• Exceptions in the order of verification powers.

It is worth mentioning that the Federal Government also stated in the Economic Package for 2021 that the ratification of the Treaty between Mexico, the United States and Canada (T-MEC) and the reconfiguration of trade due to global geopolitical changes will drive an accelerated and sustained recovery of the country’s economic activity in the coming year.

What do you think of these changes and do you believe they are appropriate for an economic recovery?